Ethereum technical analysis: ETH/USD another potential drop south eyed
|- Ethereum price is trading in the red, up 2.05% the session on Monday
- ETH/USD downside momentum continues with the price running at its fourth consecutive week in the red.
- There is a lack of signage in a change in trend, as the price trades around the lowest levels in eight months.
ETH/USD weekly chart
The price is currently trading within a critical weekly zone, $160-130. Should this be breached a fast move down to $100 could come into play.
ETH/USD daily chart
Daily price action is moving within a bearish pennant structure, subject to a potential breakout south.
Spot rate: 148.15
Relative change: -0.80%
High: 151.55
Low: 147.49
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.