Warning: Major Resistance Up Ahead For Ethereum! What Next?

10:46 pm, Thu, 7 October 21

Current Bitcoin Data

Dominance
Price
Market Cap
Volume (24h)
1h
12h
1d
7d
1m
1y
ETH bullish prediction from a previous analysis ETH Bullish Prediction! Rally To $3,500?

The Ethereum price has been on an uptrend all week, playing out exactly as we predicted in our analysis ETH Bullish Prediction! Rally To $3,500?

That bullish prediction was made when Ethereum was still trading around the $3,300 price region. Since then, the Ethereum price has surged more than 10% in profit.

ETH bullish prediction playing out exactly watch this key level coming up ahead in the 4-hour timeframe

However, this bullish surge has pushed the Ethereum price very close to a key level in the 4-hour timeframe.

In this ETH analysis, we will be talking about this key level as well as how it might affect the Ethereum 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 Ascending Channel Pattern

Major Resistance Up Ahead For Ethereum!
Major Resistance Up Ahead For Ethereum! Watch this pattern playing out in the 4-hour timeframe

Ethereum price has been trading in an ascending channel pattern in the 4-hour timeframe. This pattern offers us key levels to watch as well as a clear picture of what price is actually doing at the moment.

And right now, the Ethereum price is coming very close to the channel resistance in the 4-hour timeframe. This resistance has served as a key level the ETH bulls have been unable to break through on numerous occasions in the past. And it might continue to hold strong in the coming days.

Major Resistance Up Ahead For Ethereum!
Major Resistance Up Ahead For Ethereum! Watch this ascending channel pattern in the 4-hour timeframe

This makes this ascending channel resistance a very key level to watch for in the coming days. How will Ethereum react to this resistance zone, should we expect a breakout or a dump soon?

Final Verdict!

Major Resistance Up Ahead For Ethereum!
Major Resistance Up Ahead For Ethereum! Ethereum bullish prediction.

Ethereum is still bullish for now, but we expect this momentum to start drying up as we get closer to the ascending channel pattern key level in the 4-hour timeframe.

This makes now a good time for us to start taking our profit and reducing our position size in anticipation of bearish pressure reentering the market as we get closer to that key level.

Major Resistance Up Ahead For Ethereum! What next?

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: