Ethereum technical analysis: ETH/USD continues to remain vulnerable within bearish pennant
|- Ethereum is trading in the green, up with gains of some 1.90% in the second half of Thursday.
- ETH/USD via the daily view is moving within a bearish pennant structure.
- There is a large daily barrier seen to the upside at $240 price mark, capping bulls.
Spot rate: 220.71
Relative change: +1.90%
High: 226.00
Low: 215.51
ETH/USD 60-minute chart
- Price action has been moving within a narrowing range via the 60-minute view for much of the session. The range to the upside of $225 the low $221. There is a lack of directional commitment at present.
Chart to follow.
ETH/USD daily chart
- The price is moving within the confinements of a bearish pennant structure, subject to a potential breakout south.
Chart to follow.
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.