Urgent: Ethereum Price Bouncing As Predicted! Watch These Key Levels

9:03 am, Mon, 11 October 21

Current Bitcoin Data

Dominance
Price
Market Cap
Volume (24h)
1h
12h
1d
7d
1m
1y
Ethereum prediction from a previous analysis Ethereum Bearish Target Almost Smashed! What Next?

In our previous Ethereum analysis Ethereum Bearish Target Almost Smashed! What Next?, we talked about the ascending channel key pattern playing out in the 4-hour timeframe and how the base channel of this key pattern could become a major support for the Ethereum price in the coming days.

Well, that prediction played out exactly. The Ethereum price crashed to this key support before finding support, bouncing, and rallying higher. But how long will this rally last?

Ethereum Price Bouncing As Predicted! Watch These Key Levels
Ethereum Price Bouncing As Predicted in the 1-hour timeframe. What next?

In this Ethereum analysis, we will be talking about the key resistance we are currently watching and how it might affect the ETH price in the coming days.

To trade ETH with leverage, sign-up to Bybit right now! You can also get up to $600 in deposit bonus when you sign-up and fund your Bybit account with our Bybit link.

Claim up to $3500 in Bonus

100x Leverage

Ethereum Key Levels!

Ethereum Price Bouncing As Predicted! Watch These Key Levels
Ethereum Price Bouncing As Predicted! Watch These Key Levels in the 1-hour timeframe

The first key resistance we are watching is the $3,686 horizontal resistance in the 1-hour timeframe. The last time Ethereum got to this level, we saw a massive crash in the ETH price. And this is not the first time it is happening either.

If this horizontal level continues to hold, we might see this bearish price action play out again in the coming days, potentially ending this ETH bullish rally even before it started.

Ethereum Price Bouncing As Predicted! Watch These Key Levels
Ethereum Price Bouncing As Predicted! Watch These Key Levels. Bearish prediction in the 1-hour timeframe

However, if Ethereum manages to break through that key level. We have another key level just ahead. And that key level is the resistance channel from the ascending channel pattern playing out in the 4-hour timeframe.

Ethereum Ascending Channel Pattern

The Ethereum price still trading within a larger ascending channel pattern in the 4-hour timeframe.

The Ethereum price is still trading within a larger ascending channel pattern in the 4-hour timeframe.

This pattern offers us key levels to watch and right now the Ethereum price just bounced from the base of the ascending channel and is heading to the resistance.

Final Verdict!

The Ethereum price is running into key resistance right now and how price reacts with these levels will have a direct effect on the direction the Ethereum trend would take in the coming days.

Ethereum Price Bouncing As Predicted! Watch These Key Levels
Ethereum Price Bouncing As Predicted! Watch These Key Levels! Can the bulls breakthrough in the coming days?

Can the Ethereum bulls break through these key resistance or should we expect to see this bullish rally come to a halt and reverse?

Claim up to $3500 in Bonus

100x Leverage

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 50% bonus by using the promo code “bitcoinsensus50” when you sign-up with our link  PrimeXBT Covesting

Recommended Bitcoin Trading Platforms:
★★★★★
★★★★★

Rating: 94%

Claim up to $3500 in Bonus

100x Leverage

Fees:
Deposit Methods:
Taker:
0.075%
Maker:
-0.025%
Wire:
Credit:
Crypto:
★★★★★
★★★★★

Rating: 89%

Claim up to $112 in Bonus

100x Leverage

Fees:
Deposit Methods:
Taker:
0.075%
Maker:
-0.025%
Wire:
Credit:
Crypto:
★★★★★
★★★★★

Rating: 91%

Get 50% Deposit Bonus

100x Leverage

Fees:
Deposit Methods:
Taker:
0.050%
Maker:
0.050%
Wire:
Credit:
Crypto: