For weeks now, we have seen the Ethereum price gradually building up momentum for a massive move to come. This build-up period has seen the ETH price ranging and trading sideways within a Descending Triangle Pattern in the 4-hour timeframe.

However, we believe this pattern is nearly complete and Ethereum is in its last phase before it breaks out either to the upside or downside.

In this ETH analysis, we will be talking about the key levels we are currently watching as well as the likely price scenarios that might play out in the coming days.

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ETH Ready To Breakout!

The Ethereum price is gradually approaching the Apex point of the Descending Triangle Pattern. At this point, the Ethereum price would be too compressed together to continue trading within this narrowing range.

Once this happens, we expect to see volatility return to the market and push the ETH price out of that range and through that Descending Triangle Pattern.

What Direction Should We Expect To See A Price Breakout?

The Direction for the price breakout is still unknown. As a triangle breakout, the price can decide to break either to the upside or to the downside.

Only once the breakout start can we begin to look for price confirmation as to what direction the ETH trend would want to take.

Final Verdict!

Ethereum is getting ready for a massive move in the coming days as the 4-hour Descending Triangle Pattern is nearing completion.

The direction the breakout will take is still unknown as we are currently waiting still waiting to see more price confirmation as to what direction the ETH trend would want to take in the coming days.

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