Ethereum technical analysis: ETH/USD bulls dealing with rejection as price retests breached pennant
|- Ethereum price is trading in minor negative territory, small losses of some 0.10% on Monday.
- ETH/USD bulls have a challenge of breaking down a heavy barrier, which runs from $180 up to $200.
- The price is attempting to stage a rebound, following the brutal selling that has been observed since late June.
Spot rate: 181.84
Relative change: -0.10%
High: 186.12
Low: 176.26
ETH/USD daily chart
- The price is heading back through a chunky area of supply, $180-200 range.
ETH/USD 60-minute chart
- Price action has broken out from a bullish flag formation, subject to a retest given current pullback observed.
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