Ethereum Bullish Accumulation Coming To an End. Get Ready!
In our previous Bitcoin analysis, we talked about the $4,206 key support zone on the 4-hour timeframe and warned our readers that the ETH price might be setting up to make a massive move to the upside soon.
Well, since publishing that TA, we have seen the ETH price range/trade sideways instead as the ETH bulls continued to accumulate momentum for the coming push to the upside.
In this TA, we will be updating you on what the ETH price is currently doing as well as what we think might be setting up to happen in the coming days.
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
Decision Time for Ethereum. Can the Bulls Defend This Key Support?
For now, the most important price level for the ETH price is still the $4,206 key support zone on the 4-hour timeframe. As far as this key level continues to hold, we can expect to see more buyers step in as Ethereum accumulation phase enters a totally new level.
Once this accumulation phase is over, we expect to see a massive pump to the upside. And this upside rally could easily see the ETH price skyrocket through the $5k price level in no time.
So for now, we are still very bullish on Ethereum and will remain bullish as far as this $4,206 key support continues to hold.
Final Verdict!
The Ethereum bulls are still in full control of this market and we expect to see more buyers step into the market in the coming days.
However, right now, we are seeing the bulls accumulate momentum for a massive move. Once this accumulation phase is over, we can expect to see that Ethereum price move to the upside begin.
New to the idea of leverage trading? Check out this article list:
About The Author
