For weeks we have been tracking the bearish Flag Pattern forming in the 4-hour timeframe. And in our most recent TA, we identified the $1,755 key support as the most important level the ETH price has to break through for this bearish pattern to begin selling off Urgent! Watch This ETH Bearish Target For This Key Pattern.
Well, that $1,755 key support has finally been broken! In this Ethereum analysis, we will be breaking down what this bearish break means for the Ethereum price and what we can expect in the coming days.
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The image above is what a completed bearish flag pattern looks like. This is the same pattern we are currently tracking in the ETH 4-hour timeframe.
In the coming days, we expect to see the Altcoin price begin to sell off aggressively to complete the last leg down for this flag pattern.
This ETH sell-off could easily see the Ethereum price crashing more than -15% in the coming days.
Side Note: Our ETH bearish Head and Shoulders Pattern is also still in play right now!
We started tracking the Head and Shoulders Pattern before we even found this bearish flag Pattern. The two patterns indicating a possible sell only double-confirm our bearish bias on Ethereum.
Urgent! This ETH Key Support Just Failed! Sell Now? Watch this price prediction in the 4-hour timeframe
The most important key level right now for ETH sellers is the $1,930 key resistance in the 4-hour timeframe.
For this ETH bearish prediction to remain valid, we need to see the Altcoin continue to trade below the $1,930 key resistance. If this 4-hour level gives way, this invalidates our bearish bias on Ethereum.
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