Ethereum Technical Analysis: ETH/USD moving within a bearish pennant structure
|- Ethereum price hard hit on Tuesday, nursing losses of just shy 3% towards latter stages of session.
- ETH/USD is moving within a bearish pennant structure, subject to an extended move south.
- Bears are currently flirting with lower support of the mentioned pennant pattern.
- Social media space continues to have a sense of nervous anticipation heading into the Constantinople upgrade, mid Jan 2019.
Spot rate: 87.50
Relative change: -3.80%
High: 92.52
Low: 86.19
Trend: Bearish
Support 1: 86.10, lower support of pennant.
Support 2: 84.80, daily pivot point support.
Support 3: 80.57, daily pivot point support.
Resistance 1: 94.93, daily pivot point resistance.
Resistance 2: 97.47, upper part of pennant.
Resistance 3: 99.16, daily pivot point resistance.
ETH/USD 60-minute chart
- Price action continues to respect the mentioned pennant pattern for now, however it can be seen how close ETH/USD is tracking to the lower support line.
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.