The Ethereum price has been selling off for a while now. However, recently we are seeing ETH form what looks like a flag pattern on the 4-hour timeframe.
This key flag pattern is an accumulation indicator, signaling that the ETH price might be getting ready to gather momentum for another massive move in the coming days.
In this ETH analysis, we will be breaking down the key Flag pattern, what we expect to see price do in the coming days, and the key levels we are keeping a close eye on.
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ETH Flag Pattern
The ETH price has currently entered a ranging phase on the 4-hour timeframe. And in the coming days, we expect to see the price continue to trade sideways and range as we accumulate momentum for breakout.
How Ethereum breaks out from this key pattern once this ranging phase is completed will have a direct effect on the trend direction the Altcoin price takes going forward in the future.
If the Ethereum bulls want to see a price bounce and rally, then the ETH price must breakout to the upside. However, if we see a breakdown in price instead, Ethereum sell-off might intensify.
Final Verdict!
The ETH price is entering an accumulation phase on the 4-hour timeframe. This accumulation phase might go on for the next few days and during this phase, we expect to see Ethereum continue to range and trade sideways.
But once this accumulation phase is over, we expect to see a massive breakout. What direction this price breakout takes will have a direct impact on ETH trend direction.
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