Ethereum technical analysis: ETH/USD bulls are attempting to break down heavy supply zone $200-205
|- Ethereum price in the session on Monday is trading in positive territory by some 3.50%.
- ETH/USD bulls are testing a strong area of supply, former acting demand, $200-205.
- Should the noted zone be broken down, a heavy wave of buying pressure may shortly follow.
Spot rate: 201.47
Relative change: +3.50%
High: 202.77
Low: 193.05
ETH/USD daily chart
- Price action is moving within a significant zone of $200-205 range, prior acting demand zone.
ETH/USD 15-minute chart
- Price action near-term is within consolidation mode, forming possible penannt structure.
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