Ethereum technical analysis: ETH/USD bulls have an opportunity to capitalize sitting on top of breached descending channel
|- Ethereum price is trading in positive territory, gains of some 0.50% on Thursday.
- ETH/USD price action via the daily broke out of a descending channel formation, consolidating just above this structure at the time of writing.
- There is a huge barrier of supply which runs from $180 up to the pychological $200 mark.
Spot rate: 179.38
Relative change: +0.50%
High: 179.81
Low: 176.68
ETH/USD daily chart
- The price is consolidating just above a descending channel formation, following a breach to the upside.
ETH/USD 60-minute chart
- Price action via 60-minute chart view is moving within a bullish flag structure, subject to a potential breakout.
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