The bearish trend in Ethereum has at long last reached a pocket of support in the 15-minute interval, after dumping off significantly during the entirety of the previous week. This region of opposition has witnessed a rush of buyers into the marketplace in an effort to halt the coin from falling even deeper to the lower edge of its range. But the question is, will it be enough?
The struggle involving bulls and bears to determine who will have dominance over the ETH market for the remainder of this week is being fought out in real time on the Ethereum 15-minute period, and we are experiencing it unfold before our very eyes.
Within the span of 15 minutes, this fight has already begun to take on a unique pattern that we are able to recognize unmistakably. In this examination of Ethereum, we will be dissecting the Channel Pattern, determining what it indicates about Ethereum’s future, and discussing the various price possibilities that are possible in the days ahead.
Ethereum Participating In A Volatile Market
The price of Ethereum is currently trading in a range-bound market. This Channel Pattern is currently being played out in the 15-minute window, and it is being formed by the range marketplace and investing in a sideways direction.
This method offers us with required in this case and return to the starting position to keep an eye on, and over the next several days, we will be anticipating to see the price of ETH either break above or below this key pattern.
Regardless of which way the Ethereum price ultimately chooses to break, there is a greater chance that this will be the manner that the ETH trend will move for the remainder of this week.
Possible Outcomes Regarding The Price Of Ethereum
There are two distinct paths that the price of Ethereum could go in either of these asset market volatility. A breakdown below the channel pattern, which would indicate a bearish prolongation lower, or a break out to the upside, which would result in a bullish pump up.
In the following days, we will be keeping a close check on the Channel pattern that is now being acted out in the 15-minute time frame to determine in which direction the price of Ethereum will chose to break out of its current range.
But for the time being, we are going to stay on the sidelines and watch as the Ethereum trading market continues to mature.
Easy Steps From Beginner To Pro Crypto Trader
You can speed up your learning journey by reading our How To Trade Bitcoin Guide. This guide is the best for crypto traders who wants to get familiar with the basics of Bitcoin trading. You can also check out our top list of Best Bitcoin Exchanges To Trade With.
PrimeXBT Covesting: Trade Hassel Free
Sign-up on PrimeXBT today to trade Bitcoin hassle-free. You can copy experienced traders and access hundreds of different strategies on the platform! Don’t forget to claim your 25% bonus by using the promo code “bitcoinsensus50” when you sign-up with our link PrimeXBT Covesting