Table of Contents
We are still bearish on the Ethereum price, and the key pattern supporting this bearish bias is the Ethereum Triangle Pattern still in play in the Ethereum 15 minutes timeframe.
As far as this pattern remains valid, there is a very high probability that we might see an Ethereum price sell-off in the coming days.
In this Ethereum analysis, we will be talking about the key levels we are currently watching as well as the invalidation point for this bearish prediction.
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Ethereum Triangle Pattern
The triangle pattern is still in play in the Ethereum 15 minutes timeframe. And this pattern points to a likely sell-off in the ETH price sooner or later.
However, this bearish triangle pattern can only remain valid if the price respects and continues to trade below the $1,384 resistance zone in the 15 minutes timeframe.
ETH $1,384 Key Resistance
For the Ethereum bearish prediction to remain valid, the Ethereum price must continue to trade below the $1,384 key resistance zone in the 15 minutes timeframe.
If this level gets violated, this invalidates the triangle pattern. So for now, we will remain bearish on Ethereum and will only become bullish if the bulls can push prices above the $1,384 resistance zone.
Final Verdict!
The Ethereum price is still in the bearish territory and will remain in this bearish territory until the bulls can push Ethereum above the $1,384 key resistance zone in the 15 minutes timeframe.
As far as Ethereum is below this resistance, there is a very high probability that we might see sellers pour back into the market.
An increase in selling volume would only mean a possible sell-off for Ethereum in the coming days.
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