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The Ethereum price is currently trading in an Ascending Channel Pattern in the 15 minutes timeframe.
This pattern is very important to ETH bulls because it helps us clearly define the key levels we expect to see support or resistance in the coming days.
In this Ethereum analysis, we will be breaking down and talking in-depth about this Ascending Channel Pattern and what the Ethereum price might do next.
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Ethereum Ascending Channel Pattern
This Ascending Channel pattern helps us understand the bullish flow of the market as price inches up every day.
For this pattern to remain valid, the ETH price must respect and continue to trade within it. And the ETH price has been doing just that for the past few days.
So in the coming days, we will be keeping a close eye on this pattern to see how the ETH price will keep on acting while in this Ascending Channel Pattern.
What Next For Ethereum?
In the coming days, we expect to see the Ethereum retesting the resistance level of the Ascending Channel Pattern.
If history repeats and this 15 minutes key level holds, there is a very high probability that we might see a quick sell-off from this region again.
So the question traders would be asking right now is: will this key 15 minutes resistance hold or will the ETH price break above it? But for right now, we believe there is still room for the ETH price to keep moving higher.
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