Ethereum technical analysis: ETH/USD bearish technical structure eyed

  • Ethereum price in the second half of Monday is nursing some steep losses of over 4%. 
  • ETH/USD is protected by a decent near-term buying area around $250 price territory, a breach could expose $200 to the downside. 
  • To the upside, supply can be observed around $270, where bulls appear to be capped. 

 

Spot rate:               258.76

Relative change:   -3.10%

High:                      270.01

Low:                       254.33

ETH/USD 15-minute chart

  • A descending trend line is capping price action, forcing narrowing trading. Near-term support is eyed at $250. 

ETH/USD daily chart

  • Price action via the daily chart view is moving within a rising wedge structure, subject to a potential breakout south. 

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