Warning: ETH Testing Critical Resistance! Can We Break Out?

11:11 pm, Tue, 31 August 21

Current Ethereum Data

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End of day trading result for the top 36 cryptocurrencies by market capitalization

The ETH bullish rally continues, smashing our bullish target in the 15 minutes timeframe exactly as we predicted in our previous Ethereum analysis ETH Bullish Prediction Playing Out! Bullish Rally Far From Over

This channel target has served as key resistance against the Ethereum bullish rally on numerous occasions and might continue to do so in the coming days

ETH Bullish Prediction Playing Out! Bullish Rally Far From Over
ETH bullish prediction from a previous analysis ETH Bullish Prediction Playing Out! Bullish Rally Far From Over

In this Ethereum analysis, we will be talking about the Ethereum potential bearish scenario and how we plan to take advantage of it in the coming days.

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ETH Bearish Prediction!

ETH Testing Critical Resistance! Can We Break Out?
ETH Testing Critical Resistance in the 15 minutes timeframe! Can We Break Out?

The key level we are watching is the ascending channel resistance, this 15 minutes pattern plays a major role in affecting what Bitcoin will do in the coming days.

If the Bitcoin price continues to respect and trade below the ascending channel resistance, then there is a very high probability that we might see a price sell-off soon!

ETH Testing Critical Resistance! Can We Break Out?
ETH Testing Critical Resistance in the 15 minutes timeframe! Ethereum bearish prediction

This price sell-off plays out well to what we have seen the Ethereum price do every time it got to this region in the past.

If that event were to repeat, then there is a very high probability we might see an Ethereum sell-off that is very similar to the previous sell-offs.

ETH Testing Critical Resistance! Can We Break Out?
ETH Testing Critical Resistance in the 15 minutes timeframe! Can We Break Out?

Final Verdict!

The ETH price is currently trading at a critical level in the 15 minutes timeframe. This level has served as a key price level on numerous occasions and might continue to do so.

As far as the Ethereum price continues to trade below this key level, there is a very high probability that we might see an Ethereum sell-off in the coming days.

However, a break above this ascending channel resistance could indicate the Resumption of the Ethereum Bull-run. For our full bullish analysis read  Must Read: Ethereum Testing Key Level. Price Rally Soon!

Ethereum Testing Key Level. Price Rally Soon!
Ethereum bullish prediction from a previous analysis Must Read: Ethereum Testing Key Level. Price Rally Soon!

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