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The Ethereum bears are fighting back aggressively to retain control of this market. This bearish push might see the ETH price crashing back down to a key level in the 15 minutes timeframe.
In this Ethereum analysis, we will be breaking down this bearish outlook in Ethereum as well as why the $1,448 support is very important.
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Ethereum Major Support!
The Ethereum price is currently setting up for a potential bullish surge in the coming days. The key level we are currently watching is the $1,448 support region in the 15 minutes timeframe.
The last time the Ethereum price tried to break below that support, we saw massive rejections as the bulls rushed in to defend the level. The question now is, Can we expect a similar reaction from the bulls when the price gets back there?
Ethereum Bullish Bias
For the Ethereum bullish bias to be confirmed, we need to see the Ethereum price test and hold this $1,448 key support region in the 15 minutes timeframe.
If this level holds, there is a very high probability that we might see the bulls come back into the market to push prices higher.
So in the coming days, we will be keeping a close eye on this level to see how the ETH price will react.
Final Verdict!
The Ethereum price is setting up for a massive move in the coming days, this move could see us pushing to new highs in the coming days.
But for this bullish bias to be confirmed, the Ethereum price must respect and continue to trade above the $1,448 key support region in the 15 minutes timeframe.
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