Urgent: Ethereum Price Breaking Out Now. Is This The Start Of The ETH Bull Run?
In our previous Ethereum analysis, we talked about the converging pattern forming on the Daily timeframe and warned our readers of the potential breakout setting up to happen. We also talked about what the Ethereum bulls must do to regain control of this market.
Well, right now, the Ethereum price is playing out exactly as we predicted! And in this ETH analysis, we will be breaking down what we expect to happen next and the most important price levels for the ETH bulls.
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Is This the Start of The Ethereum Bull Run?
The Ethereum price has right now broken out from the converging pattern on the Daily timeframe. This bullish breakout is a great indication that the ETH ranging phase is coming to an end soon and the ETH bulls are currently winning.
However, for this bullish momentum to be sustained, we need to see more buyers stepping in to push the Ethereum price higher in the coming days. Unless we see this influx of buyers, sellers might capitalize on this to create weakness in Ethereum again.
So for now, we are watching closely to see if the Ethereum bulls can step up to continue pushing the ETH price higher or if the bears will step in to stop this from happening.
Final Verdict!
The Ethereum price is right now trading at a critical price region on the Daily timeframe as the ETH bulls are fighting to remain control of this bullish price breakout. But for that to happen, we need to see more buyers begin to step in soon.
A failure to see the ETH price push more aggressively from here could signify weakness. And that weakness will be capitalized upon by the sellers.
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