Ethereum Technical Analysis: ETH/USD moving within a steep channel to the burning south
|- Ethereum price nursing losses of around 1% in the second half of the session on Tuesday.
- ETH/USD price action moving within a very steep descending channel, containing the price.
ETH/USD 15-minute chart
- Price contained within a strong near-term area of demand ($102-103). Supply to the upside, ($107-108).
Spot rate: 105.25
Relative change: -0.95%
High: 106.78
Low: 103.06
Trend: Bearish
Support 1: 101.62, daily pivot point support.
Support 2: 96.91, daily pivot point support.
Support 3: 91.64, daily pivot point support.
Resistance 1: 111.59, daily pivot point resistance.
Resistance 2: 116.85, daily pivot point resistance.
Resistance 3: 121.56, daily pivot point resistance.
ETH/USD 60-minute chart
- Price action within consolidation mode, having formed a bearish pennant structure.
ETH/USD daily chart
- ETH/USD via the daily chart view is moving within a steep descending channel formation.
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