Ethereum Price Prediction Daily (20-Nov): Ethereum Testing This Key Support! Can It Hold?
The Ethereum price is currently testing key support in the 15 minutes timeframe. This key support is the base channel of the Triangle pattern the Altcoin price has been trading in.
The question traders are now asking is will this base channel support hold or should we be expecting a sell-off to the downside in the coming days?
In this Ethereum analysis, we will be breaking down what a bearish scenario might look like for the ETH price if it breaks and closes below this key support.
To trade ETH with leverage, sign-up to Bybit right now! Bybit’s BIGGEST Bonus Campaign is now live! You can get up to a $4,380 Bonus and up to 30 days of 0% Maker fee when you sign-up and fund your Bybit account with our Bybit link
Ethereum Bearish Price Scenario!
For the Ethereum bearish scenario to play out, we need to see a clear breakdown in price below this key Triangle pattern in the 15 minutes timeframe.
The image above is what that breakdown could look like. So in the coming days, we will be keeping a close eye on this level to see if it will finally give way.
What Happens If This Support Holds?
Well, unless the Ethereum bears can push the Altcoin price below this key support for the triangle pattern, Ethereum cannot move lower.
This is why this key support is very important for the bulls, If they can continue to hold on to this level and even push prices back up, we might see a bullish rally play out instead of a sell-off.
Final Verdict!
The Ethereum trend is still undecided! However, we believe the Altcoin price is getting ready to make a decisive move in the coming days.
What direction that move takes will depend on if the ETH bears can break through this key support Ethereum is currently testing. If this support holds strong, we might see more buyers come in and push the Altcoin higher.
Easy Steps From Beginner To Pro Crypto Trader
You can speed up your learning journey by reading our How To Trade Bitcoin Guide. This guide is the best for crypto traders who wants to get familiar with the basics of Bitcoin trading. You can also check out our top list of Best Bitcoin Exchanges To Trade With.
PrimeXBT Covesting: Trade Hassel Free
Sign-up on PrimeXBT today to trade Bitcoin hassle-free. You can copy experienced traders and access hundreds of different strategies on the platform! Don’t forget to claim your 25% bonus by using the promo code “bitcoinsensus50” when you sign-up with our link PrimeXBT Covesting
The content provided in this article is for informational and educational purposes only and does not constitute financial, investment, or trading advice. Any actions you take based on the information provided are solely at your own risk. We are not responsible for any financial losses, damages, or consequences resulting from your use of this content. Always conduct your own research and consult a qualified financial advisor before making any investment decisions. Read more
Tags
Cardano Price Prediction: Buy Now or Wait?
June 19, 2025
Previous ArticleDogecoin Price Prediction: Buying Opportunity Ahead?
July 4, 2025
Next ArticleBitcoinsensus Staff