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The Ethereum flag pattern is currently breaking out exactly as we predicted in our previous analysis Ethereum Bullish Rally Far From Over! Watch This Flag Pattern.
However, we believe this rally is far from over, and in this ETH analysis, we will be breaking down our bullish prediction as well as the key support the ETH bulls must defend for this Ethereum bullish bias to remain valid.
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Ethereum Bullish Prediction Playing Out!
The Ethereum price earlier today broke out of the 15 minutes Flag Pattern and is currently heading higher. This is playing out exactly as we predicted! However, Ethereum is yet to smash our bullish target of $1,844.
So in the coming days, we believe there is a very high probability that Ethereum might just continue to creep up little by little to this $1,844 price region.
This is a potential +5% surge coming soon for the Ethereum price, and there is a very high probability it might play out very soon!
ETH Key Level That Must Be Watched
The most important key support for the Ethereum bulls right now is the $1,705 price level.
This key level has served as a minor support for the Ethereum price on numerous occasions in the past, and it must continue to hold if we want to see the Ethereum bulls get to our bullish target.
So in the coming days, we will be keeping a close eye on this $1,705 key support to see if the bulls can continue to defend it successfully.
Final Verdict!
The Ethereum bullish rally is far from over. There is a very high probability that we might see more buyers begin to enter the ETH market in the coming days.
This influx of new buyers will definitely increase the bullish momentum and push the ETH price higher.
However, this bullish bias in Ethereum only stands if the Altcoin can hold onto and continue to trade above the $1,705 key support in the 15 minutes timeframe.
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