The image above is the exact Ethereum pattern we have been tracking for days. The Altcoin price did break out exactly as we predicted but after the breakout, the bullish volume in Ethereum totally disappeared!

The image below is what that pattern now looks like, with the Ethereum price failing to rally higher. Instead, we have seen the Altcoin range, and trade sideways day after day.

This sideways sideways trading has led us to believe there might be a larger pattern in play right now in the Ethereum price chart. And in this ETH analysis, we will be exploring this possibility and breaking down exactly what we are seeing develop in the ETH 15 minutes timeframe.

To trade ETH with leverage, sign-up to Bybit right now! Bybit’s BIGGEST Bonus Campaign is now live! You can get up to a $4,380 Bonus and up to 30 days of 0% Maker fee when you sign-up and fund your Bybit account with our Bybit link

Ethereum Bigger Picture.

The bigger picture we believe might be developing for Ethereum is a massive Triangle Pattern that is currently forming in the 15 minutes timeframe.

This bigger pattern indicates that the ranging market might not be over yet and we need to see the Altcoin price breakout of this bigger Triangle pattern before we see any substantial volume re-enter the market.

However, the question traders are asking now is what direction will this new ETH price breakout take in the coming days?

Should we be expecting a much larger break to the upside or will the Ethereum bears take control and push the Altcoin price lower?

Final Verdict!

We believe Ethereum might still be in the indecision phase right now! However, the key level we are still watching is the $1,170 key support in the 15 minutes timeframe.

We have been talking about this 15 minutes key support for so long and we still believe for the Ethereum bulls to have the possibility of regaining control of the market and pushing the Altcoin price higher, we need to see this key $1,170 key support continue to hold.

So for now, we stand aside and wait to see the exact direction Ethereum would want to take in the coming days.

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