The direction the Ethereum trend will take in the coming days is directly dependent on if the Altcoin price can stay above a major key support level in the 4-hour timeframe.
We have seen this $1,823 support get defended over and over again in the past. And when the ETH price managed to break below it, we saw a massive sell-off follow.
This indicates the importance of this key level, and in this Ethereum analysis, we will be focusing on it and talking about the possible price scenarios that might be possible for the Ethereum price come next week.
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Possible Price Scenarios For Ethereum
For Ethereum to remain bullish, the ETH $1,823 key support must be respected at all costs! This key support is the line in the sand and it helps us fully understand what the ETH price is doing right now.
If the ETH bulls can defend this key support, there is a very high probability that we might see more bullish momentum begin to enter the market come next week.
So in the coming days, we will be keeping a close eye on this $1,823 key support level to see how the price reacts to it in the coming days.
Final Verdict!
The Ethereum price is right now in the bullish territory and there is a very high probability that we might see the Altcoin continue to push higher in the coming days.
However, for this bullish bias and momentum to remain valid, we need to see the Altcoin respect and continue to trade above the $1,823 key support level in the 4-hour timeframe.
As far as the ETH price can stay above this 4-hour key support, there is a very high probability that we might see more buyers begin to step back into the market in the coming days.
However, if this key level gives way, this could be really bad for the ETH bulls.
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