Ethereum Price Prediction Daily (27-Nov): More Bearish Signal For Ethereum! Watch This Ending Diagonal Pattern

Ethereum Price Prediction Daily (27-Nov): More Bearish Signal For Ethereum! Watch This Ending Diagonal Pattern

Alt coin
November 27, 2022 by keithhill530
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[ad_1] Ethereum price trading at the $1,233 key resistance level in the 1-hour timeframe The Ethereum price continues to struggle at the $1,233 key resistance region in the 1-hour timeframe. This region is so important to the bears because if they can hold on to it, there is a very high probability that we might
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Ethereum price trading at the $1,233 key resistance level in the 1-hour timeframe

The Ethereum price continues to struggle at the $1,233 key resistance region in the 1-hour timeframe. This region is so important to the bears because if they can hold on to it, there is a very high probability that we might see a price sell-off occur in the coming days.

However, this bearish prediction and bias on Ethereum can only remain valid if this $1,233 resistance holds. Right now, Ethereum is still trading around this level and the price is now forming an Ending Diagonal Pattern at this key region.

What does this mean for price and what can we expect next? Find out all that and more in this TA.

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Ethereum Ending Diagonal Pattern

The Ending Diagonal Pattern is a unique reversal trading pattern used by professionals to spot possible trend change scenarios.

If this Ending Diagonal pattern plays out, we might see a sharp decline in the Ethereum price back down to the $1,170 price level in the coming days.

So for right now, we will be watching this pattern closely to spot exactly when the Ethereum sell-off starts.

More Bearish Signal For Ethereum! Watch This Ending Diagonal Pattern in the 1-hour timeframe
More Bearish Signal For Ethereum! Watch This Ending Diagonal Pattern in the 1-hour timeframe

Final Verdict!

We are still bearish on Ethereum and will remain bearish as far as the Altcoin price respects and continues to trade below the $1,233 key resistance in the 1-hour timeframe.

What we are seeing right now is more bearish confirmation to indicate that we should be expecting a possible sell-off for Ethereum sooner or later. The Ending Diagonal Pattern provides us with an easy way to take advantage of that sell-off when it starts.

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