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The Ethereum bullish rally continued today, playing out exactly as we predicted in our previous analysis Ethereum Bullish Prediction Playing Out! Rally Far From Over
However, Ethereum is right now trading around a very key resistance in the 1-hour timeframe. Can the bulls break through it or should we expect a price reversal in the coming days?
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Ethereum Bullish Prediction!
For the Ethereum bullish prediction, we want to see the ETH price breakthrough and close above the $4k resistance region. This level has served as a major resistance for the Ethereum bulls before and might do so again in the coming days.
A bullish breakout through this key level serves as a strong confirmation of our bullish bias and opens up the way for us to see the Ethereum price rally back to ATHs soon!
Ethereum Bearish Prediction!
For the Ethereum bearish prediction, we want to see the Altcoin price respect and continue to trade below the $4k resistance region in the 1-hour timeframe.
If this resistance level holds, there is a very high probability that we might see weakness come back into the Altcoin market, pushing Ethereum lower in price in the coming days.
This makes this $4k resistance a very key level to keep an eye on in the coming days. Because what the Ethereum price decides to do around this price region in the coming days, has a huge impact on the direction the Ethereum price might take.
Final Verdict!
The Ethereum price is trading at a critical level in the 1-hour timeframe. Can the Ethereum bulls break through this key level in the coming days or should we expect to see another price crash?
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