Latest news about Bitcoin and all cryptocurrencies. Your daily crypto news habit.
Ethereum price prediction from a previous analysis What Ethereum Must Do For This Bullish Rally To Continue
The Ethereum bulls continue to battle with the 4-hour key resistance region we talked about in our previous analysis What Ethereum Must Do For This Bullish Rally To Continue
However, something is beginning to take shape in the lower time frame. And the last time this pattern took shape, we saw a massive sell-off in the Ethereum price.
In this Ethereum analysis, we will be going to the lower timeframe and breaking down the key pattern that is currently forming right now in the 15 minutes timeframe.
To trade ETH with leverage, sign-up to Bybit right now! Bybit’s BIGGEST Bonus Campaign is now live! You can get up to a $30,000 Bonus when you fund your Bybit account with our Bybit link
Claim up to $30,030 in Bonus
100x Leverage
Start TradingWill History Repeat On The Ethereum Price Chart?
Warning! Can Ethereum Stay Above This Key Support? Watch this pattern forming in the 15 minutes timeframe
The last time the Ethereum price attempted to break through this $1,400 price region, we saw the bulls face massive selling pressure around this key region before falling back lower.
However, a key Double Top Pattern formed before that massive sell-off began. And right now Ethereum is attempting to break out again, we are seeing that Double Top Pattern form again!
And it is not just that this pattern is forming right now, but that this Double Top Pattern is forming exactly at the same price region as the previous one!
Warning! Can Ethereum Stay Above This Key Support? Watch this pattern forming in the 15 minutes timeframe
What Does This Mean For Ethereum?
A Double Top Pattern is a reversal pattern. And by forming at the $1,400 key resistance level, it is increasing the possibility for us to see history repeat itself in Ethereum in the coming days.
The image below is a closer look at the 15 minutes double-top pattern as well as the $1,315 Neckline Support that must be broken to confirm the start of the sell-off for this pattern.
Warning! Can Ethereum Stay Above This Key Support? Watch this pattern forming in the 15 minutes timeframe
The question now is “can the bulls manage to hold the ETH price above this key support in the coming days?”
If Ethereum breaks below this $1,315 Neckline support, there is a very high probability that we might see a small sell-off playout in the coming days.
Claim up to $30,030 in Bonus
100x Leverage
Start TradingEasy 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
The post Ethereum Price Prediction Daily (11-Jan): Warning! Can Ethereum Stay Above This Key Support? appeared first on Bitcoinsensus.
Disclaimer
The views and opinions expressed in this article are solely those of the authors and do not reflect the views of Bitcoin Insider. Every investment and trading move involves risk - this is especially true for cryptocurrencies given their volatility. We strongly advise our readers to conduct their own research when making a decision.