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We are still very bullish on the Ethereum price as the Altcoin is currently forming a bullish continuation pattern around a key support level in the 15 minutes timeframe. This flag pattern offers us key levels to watch for and right now, the Ethereum price is testing the resistance channel of this pattern.
This is the final level Ethereum needs to breakthrough in order to rally higher! Can the Ethereum bulls break through it and continue rallying higher in the coming days?
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What Next For The Ethereum Price
What the Ethereum price does in the coming days depends solely on how the Altcoin price interacts with this resistance channel of the Ethereum flag pattern in the 15 minutes timeframe.
Ethereum Bullish Prediction!
For the Ethereum bullish prediction, we want to see a clear price break above this 15 minutes channel resistance for the flag pattern.
A bullish breakout like this could see us surging higher towards the $5,000 price region in the coming days.
Ethereum Bearish Prediction
For the bearish prediction, we want to see this resistance channel hold strong in the 15 minutes timeframe. This level has served as key resistance to the Ethereum rally on two previous occasions and might do so again in the coming days.
If this level holds, there is a very high probability that we might see a price sell-off back down to the base channel of the flag pattern in the coming days.
Final Verdict!
The Ethereum price is trading at a very key level in the 15 minutes timeframe. How reacts to this level could have a major effect on what direction the Ethereum trend will take in the coming days.
Can we expect to see a price breakout or should we expect the price to sell-off back down?
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