Table of Contents
In our Ethereum previous analysis Ethereum Building Up For A Move! we identified the key Channel Pattern that was forming in the 15 minutes timeframe.
However, we predicted wrongly the direction that the breakout from the pattern was supposed to take. Instead of breaking to the downside as we anticipated, we saw the Ethereum price rally up.
This bullish rally is a great indication that the bulls are back in control of the market. But how long the bulls can hold on to this control is still in question because right now, the Ethereum price is about to test another major level in the 15 minutes timeframe.
And in this Ethereum analysis, we will be talking more about this $1,635 key resistance and what Ethereum must do to break above it.
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Ethereum $1,635 Key Resistance
The Ethereum bulls are currently pushing prices to a key resistance level in the 15 minutes timeframe.
In the coming days, we expect to see Ethereum struggle to break above this $1,635 resistance. Once that struggle begins, we can then come in and start looking for the best pattern to take advantage of a bullish continuation in the coming days.
But for now, we will stand aside and wait to see how the Ethereum bulls will react to this $1,635 price level.
Final Verdict!
The Ethereum bearish trend has switched and we are now witnessing more buyers begin to come into the ETH market.
How high this rally goes depends on if the ETH bulls can break through the $1,635 resistance level in the 15 minutes timeframe.
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