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In our previous Ethereum analysis Ethereum Price Ranging In This Key Region! Watch These Levels we talked about the $4,000 to $4,400 price levels as a key zone holding the ETH price back!
And right now, the Ethereum price is finally breaking through that key zone in the 4-hour timeframe. This breakout is very bullish for Ethereum as it increases the potential for us to see a bullish follow-through in the price soon!
But can the bulls sustain this up move or should we expect to see a price crash back down in the coming days?
Find out the Key levels we are currently watching as well as our bullish bias for Ethereum in the coming days! Price rally to ATHs soon?
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Ethereum Bullish Prediction!
The Ethereum price has broken out of this key region in the 4-hour timeframe, but for the Altfcoin to remain bullish, Ethereum needs to stay above this region.
So for this bullish rally to ATHs to play out, the Ethereum price must continue trading above the $4,400 previous resistance now turned support. A price break back below this region only pushes ETH back into the ranging market condition.
Final Verdict!
The Ethereum price is still trading around the $4,400 to $4,000 critical region in the 4-hour timeframe. As far as the price stays above this key region, there is a very high probability that we might see Ethereum bullish rally continue to play out in the coming days!
However, if the Ethereum price breaks back down into this key region, then this bullish rally we are currently seeing above the $4,400 key level might be a fakeout.
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