Ethereum Price Prediction Daily (27-Oct): Ethereum Ending Diagonal Pattern Playing Out Exactly!
In our previous Ethereum analysis Is This Ethereum Rally Over Extended? we warned our readers of the key Ending Diagonal Pattern currently forming in the 15 minutes timeframe.
This pattern is very important to the ETH bulls because it signifies a possible change in the trend of the Altcoin at least for the short term.
Well, since publishing that TA, we have seen the Ethereum bullish rally slow down! However, the price is still yet to break through our $1,508 key support in the 15 minutes timeframe.
Until Ethereum can break through this $1,508 key support, this Ending Diagonal Pattern will not be ready to be traded.
In this Ethereum analysis, we will be breaking down exactly what Ethereum is doing right now and what we can expect soon!
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
Claim up to $4380 in Bonus
What Is Ethereum Doing Right Now?
Well right now, we are seeing the Ethereum price ranging in the 15 minutes timeframe. This price range is forming a mini Descending Channel Pattern that can better help us understand exactly what the price might do next.
What direct Ethereum takes in the coming days will totally depend on how the price breaks out of this mini Descending Channel pattern
For the bearish prediction, we want to see the Ethereum price break out of this mini-descending channel pattern to the downside in the coming days.
A breakdown like this would push the Altcoin price below the $1,508 key support, validating our Ending Diagonal Pattern and giving us more confirmation to expect a sell-off to the downside in the coming days.
Ethereum Bullish Prediction!
For Ethereum’s bullish prediction, we want to see the ETH price breakout of this mini Descending Channel pattern to the upside.
A bullish breakout like this could be a strong indication that the bullish rally in Ethereum might still be far from over.
Claim up to $4380 in Bonus
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
Recommended Bitcoin Trading Platforms: