Warning: Ethereum Forming Bearish Flag Pattern At Key Support! What Next?

11:11 pm, Thu, 21 October 21

Current Ethereum Data

Dominance
Price
Market Cap
Volume (24h)
1h
12h
1d
7d
1m
1y
?
Ethereum Price Breaking Out Now! Watch This Converging Triangle Pattern!!
Ethereum price prediction from a previous analysis Ethereum Rally Far From Over! Price To ATHs?

The Ethereum $4k support we talked about in our previous analysis Ethereum Rally Far From Over! Price To ATHs? is still holding strong as predicted but for how long?

Right now, the Ethereum price is forming a bearish flag pattern around this key support in the 15 minutes timeframe. This pattern points to growing weakness in the Ethereum price and if it plays out might lead to a likely sell-off in price soon!

Ethereum Forming Bearish Flag Pattern At Key Support! What Next?
Ethereum Forming Bearish Flag Pattern At Key Support in the 15 minutes timeframe! What Next?

To trade ETH with leverage, sign-up to Bybit right now! Bybit’s BIGGEST Deposit Bonus Campaign is now live! First-time depositors can get up to a $3,500 Bonus when you sign-up and fund your Bybit account with our Bybit link.

Claim up to $30,030 in Bonus

100x Leverage

Ethereum Flag Pattern!

The flag pattern is a high-quality trade setup that offers trades the opportunity to take advantage of the short-term price movements in the price of an asset.

And right the Ethereum price is forming this flag pattern around key support in the 15 minutes timeframe.

ETH $4k Key Support!

The Ethereum $4k key support is a 4-hour horizontal price level that we believe is the deciding factor as to what the Ethereum price will do in the coming days.

If this key support continues to hold, we can expect to see this bullish rally in the Ethereum price resume soon.

Ethereum Forming Bearish Flag Pattern At Key Support in the 15 minutes timeframe! What Next?
Ethereum Forming Bearish Flag Pattern At Key Support in the 15 minutes timeframe! What Next?

However, if the price breaks through this $4k key support in the 15 minutes timeframes we can expect to see a deeper retracement for the Ethereum price in the coming days.

The bearish target for a sell-off like this would be the $3,765 price region.

Ethereum Forming Bearish Flag Pattern At Key Support in the 15 minutes timeframe! What Next?
Ethereum Forming Bearish Flag Pattern At Key Support in the 15 minutes timeframe! ETH bearish price prediction

Final Verdict!

The Ethereum price is currently forming a bearish pattern in the 15 minutes timeframe! However, how deep this potential sell-off might be is all dependent on how the Ethereum price reacts to the $4k support level in the 4-hour timeframe.

If this horizontal support holds, we can expect this bearish sell-off to be shallow and over soon! however, if the Ethereum price breaks through this 4-hour support, we can expect to see a price crash back down to $3,765 regions in the coming days!

Claim up to $30,030 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 25% 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 $30,030 in Bonus

100x Leverage

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

Rating: 89%

Claim up to $4100 in Bonus

100x Leverage

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

Rating: 91%

Claim up to $7000 in Bonus

100x Leverage

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