Warning: This is The Most Important Support Zone for The Ethereum Price Right Now. Get Ready!
For weeks now, the Ethereum price has been selling off massively. However, we believe that bearish phase might be coming to an end soon.
Right now, we are seeing a massive Ethereum price bounce at a key support zone and there is a very high probability that this price bounce could lead a major rally in the coming days.
In this ETH analysis, we will be breaking down the key patterns we are watching as well as the major support the ETH bulls need to defend right now for this Ethereum bullish bias to remain valid.
Start trading BTC,ETH, and a variety of popular cryptocurrencies with leverage as high as 100x on Bybit right now! Sign-up with our Bybit link to claim exclusive rewards of up to 6,045 USDT bonus
Ethereum Bull Run Coming!
The most important price level we are watching right now is the ETH $2,669 key support zone on the Daily timeframe. This key level as served as resistance previously and right now, we are seeing the ETH price bounce aggressively after testing it again.
This price bounce indicates that the Ethereum bulls are stepping up to defend this key zone and if we want to see this bullish rally continue playing out, this $2,669 price level must hold at all cost.
So for now, we are watching this price region closely to see if the Ethereum bulls have what it takes to hold on.
Final Verdict!
The Ethereum bulls are fighting back to regain control of the market trend after months of bearish pressure. Right now, price is trading at a critical level on the Daily timeframe.
If the bulls want this Ethereum rally to playout, we need to see the $2,669 key support zone get defended at all cost. A bearish breakdown below this key level will only signify more weakness to come for Ethereum.
New to the idea of leverage trading? Check out this article list:
About The Author
