Ethereum Price Prediction: ETH/USD bullish technical structure eyed
|- Ethereum price in the latter part of trading on Wednesday was seen trading up around 2%.
- Price action has formed a bullish pennant pattern, which is subject to an extended breakout higher.
The Ethereum price is seen holding gains in the latter part of trading on Wednesday, trading in the green by some 2%. ETH/USD bulls still appear to be lurking for further upside, after what has already been a decent push north this week.
ETH/USD this week has gained a whopping 20%, having rallied five out of the last six trading sessions. Price action via the 4-hour chart view has formed a bullish pennant pattern, subject to an extended breakout higher.
In terms of near-term resistance, this can be seen tracking around the $148 mark, which is the upper trend line of the pennant. A break above could open the door for a retest of the 2019 high area, within the $160-165 price region.
ETH/USD 4-hour chart
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