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The Ethereum price has finally broken through the bullish flag pattern exactly as we predicted in a previous analysis; Ethereum Forming A Larger Bullish Flag Pattern! Watch These Levels! However, the Altcoin price is still trading around this previous key resistance now turned support in the 15 minutes timeframe.
If this new support level holds, there is a very high probability that we might see the bullish rally in the Ethereum price continue into tomorrow.
In this Ethereum analysis, we will be talking about this bullish bias as well as the importance of this flag pattern key support to the Ethereum bulls in the coming days.
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Ethereum Flag Pattern
The flag pattern is a bullish continuation pattern that points to a very high likely hood for us to see more bullish price movement for Ethereum.
This pattern also looks complete because the Ethereum price has finally broken through channel resistance and is currently testing it for support in the 15 minutes timeframe.
It is very important for this new support level to hold, as a break below it will only push the Ethereum price back into the ranging market we experienced while Ethereum was trading within flag pattern channels
Ethereum Bullish Prediction!
For the Ethereum bullish prediction, we want to see the ETH price respect and continue to trade above the flag pattern in the 15 minutes timeframe. This would open the way for the Altcoin price to continue its bullish rally higher!
The big question now is “can the Ethereum bulls hold this key support in the 15 minutes timeframe?”
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