ETH Bearish Trend Playing Out Exactly! Sell-Off Far From Over!
In our previous Ethereum analysis, we identified the larger Bearish Flag Pattern that was forming on the weekly timeframe and warned our readers of the potential sell-off that was setting up to happen.
Well, that bearish prediction is playing out exactly. Since publishing that ETH TA, we have seen the Ethereum bearish trend get sustained as the Ethereum price broke below the $2,000 price region continues to head lower.
In this ETH analysis, we will be updating you on the current ETH price action as well as what we think might be setting up to happen in the coming days.
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Ethereum Bearish Flag Pattern
The key pattern we are tracking right now is the Bearish Flag Pattern playing out on the Ethereum weekly timeframe. This key pattern is used by pro-traders to spot exactly what direction the price of an asset might be willing to go.
For Ethereum, that bearish direction was confirmed the moment the ETH price broke through and closed below that Flag Pattern on the Weekly timeframe.
Right now, we expect to see the Ethereum price continue to drop aggressively back down to the $1k price region in the coming weeks.
Final Verdict!
Ethereum price selling-off right now is the start of the bear market for the crypto industry. Right now, both the Bitcoin and Ethereum prices are taking a heavy beating as Trump continues to wage a global trade tariff war.
For Ethereum, this bear market could easily see it crashing back down to the $1k price region in the coming weeks.
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