Ethereum Price Analysis: ETH/USD narrowing price action suggests of potential trouble
|- Ethereum price is trading in the green by 4.95% in the session on Monday.
- ETH/USD is at risk of another potential fall, given the recent tight trading range.
- The price has been hit by the market bears for two consecutive weeks.
ETH/USD weekly chart
Weekly support should be noted around $22010, failure to hold should force steep selling. The price would be vulnerable to a 2020 reversal.
ETH/USD daily chart
Price action via the daily chart view is moving within a bearish pennant structure, subject to a breakout.
Spot rate: 228.52
Relative change: +4.95%
High: 230.17
Low: 212.38
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