Ethereum Price Analysis: ETH/USD must break above $200 to escape the bear market
|- Ethereum price is trading in the green by 6.35% in the session on Wednesday.
- ETH/USD remains stuck within the confinements of a bearish flag structure.
- Price action has been consolidating since 13 March, after the falling.
ETH/USD daily chart
Supply remains heavy from the range of $175 up to $190, ahead of the $200 retest.
ETH/USD 60-minute chart
Price action smashed out to the upside from a bullish pennant structure, inviting a fresh wave of buying pressure, hourly supply zone seen just ahead.
Spot rate: 153.38
Relative change: +6.35%
High: 183.39
Low: 170.06
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