Ethereum technical analysis: ETH/USD bearish pennant breached, opens door to further selling
|- Ethereum price is trading in negative territory, nursing losses of some 2.60% on Thursday.
- ETH/USD smashed out from breached daily pennant structure, making way for further downside.
- The price is heading down to the a big area of potential support at $150.
Spot rate: 168.50
Relative change: -2.60%
High: 173.49
Low: 166.36
ETH/USD daily chart
- The price is narrowing within a pennant, following the breakout of a bearish flag earlier in the month.
ETH/USD 60-minute chart
- Price action via the 60-minute chart view is moving within consolidation mode, attempting to stabilise. The price however is still vulnerable to further downside pressure.
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.