For the past few days now, we have been tracking the Triangle Pattern forming in the 15 minutes timeframe. This key pattern helped us understand exactly how the Ethereum price was consolidating and what the Altcoin must do to come out of this consolidation pattern.

Well, we believe Ethereum is getting ready to make a big move soon! However, the direction this move will take is still not yet known!

Because the pattern we want to break out from is a triangle pattern, there is a 50/50% chance that the Ethereum price might break out either to the upside or downside.

In this Ethereum analysis, we will be talking about both these price scenarios and the key levels we are currently watching.

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Ethereum Bullish Price Scenario

For the bullish price scenario, the key level we want to see the Altcoin price break above is the $1,399 key resistance region in the 15 minutes timeframe.

A bullish break above this key level pushes the Altcoin above the consolidation phase of the Triangle pattern and indicates a potential surge to the upside in the coming days.

So in the coming days, we will be keeping a close eye on this resistance zone to see if the bulls can push prices above it.

Ethereum Bearish Price Scenario

For the Ethereum bearish price scenario, we want to see Ethereum sell-off below the $1,260 key support in the 15 minutes timeframe.

We have seen this support hold the prices up over and over again in the past. If Ethereum breaks through it now, it only signifies more bearish volume coming into the market.

So the bears need to push the ETH price below this $1,260 before we can say the triangle breakout will be to the downside.

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