In our previous Ethereum analysis, we identified the Flag Pattern playing out on the Daily timeframe and warned our readers of the sideways market we are currently entering into.
Well, that sideways market is playing out exactly. And right now, we are about to see a micro pump play out on Ethereum.
In this ETH analysis, we will be breaking down the potential +10% rally setting up to happen as well as the key levels we are keeping a close eye on.
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ETH Bounce and Rally to $2,200
Right now, we are seeing the ETH price bottom at base of the much larger flag pattern we have been tracking for days. And with this bottoming, we expect to see a micro rally in price in the coming days.
This micro rally could easily send the ETH price higher as we push back up towards the $2,200 price level before facing any major resistance in price.
So for now, we are watching this micro rally develop as we begin to slowly push up. If this rally plays out exactly, we can expect to see a potential +10% pump in price.
Final Verdict!
In the larger picture, Ethereum is still trading within a flag pattern. And right now, we are watching a micro-rally play out within this key pattern. If this ETH bullish prediction does exactly what we are expecting, Ethereum could easily push up to the $2,200 price region in the coming days.
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