Ethereum Technical Analysis: ETH/USD bullish breakout not off the card
|- Ethereum price on Wednesday is trading in the red within the second part of the session, down over 3%.
- ETH/USD continues to move within a bullish pennant pattern, lower support of pattern is holding.
- The lower trend line of the pennant can be seen tracking at $162, a breakout would likely trigger some hard selling.
Spot rate: 164.95
Relative change: -3.15%
High: 171.02
Low: 161.97
ETH/USD 60-minute chart
- ETH/USD is moving within the confinements of a horizontal wedge seen via the 60-minute view, in line with the price remaining in consolidation mode at present.
ETH/USD daily chart
- Price action is moving within a bullish pennant pattern formation, subject to a breakout.
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.