Ethereum Price Analysis: ETH/USD a break of demand at $160-150 will be punishing
|- Ethereum price is trading in the red by 0.80% in the session on Friday.
- A demand zone can be seen at the range of $160-150, which is at risk of a breach.
- Next major daily support should be noted at $140, failure to hold then eyes on $120.
ETH/USD daily chart
The price is running at three consecutive sessions in the red. A breach of the detailed $160-150, will op[en the door to $140 and then $120.
ETH/USD 60-minute chart
Selling has been harsh following a breakout of a 60-minute bearish flag pattern.
Spot rate: 161.48
Relative change: -0.80%
High: 163.03
Low: 155.21
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.