Ethereum Price Analysis: ETH/USD critical 2019 trend line retest in focus
|- Ethereum price is trading in the green by 1.70% in the session on Friday.
- ETH/USD has been rising for four consecutive sessions, on a solid run, no signs of a slowdown.
- Eyes will be on a retest of a breached ascending trend line, which acted strongly as support in 2019.
ETH/USD weekly chart
The next major area of interest for the bulls will likely be the round psychological $300 mark, which is very much within reaching distance and in proximity to a breached trend line retest.
ETH/USD 60-minute chart
Price action has extended to the upside after breaking out of a bullish pennant structure.
Spot rate: 278.48
Relative change: +3.70%
High: 278.70
Low: 260.12
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.