Ethereum technical analysis: ETH/USD risk of a potential breakout from a bearish technical structure
|- Ethereum price in the second half of Monday is trading in the red, down some 2.30%.
- ETH/USD is moving within a bearish technical structure via the daily, pennant subject to a potential breakout south.
- A break of the noted pattern could invite a fresh wave of selling pressure, with a possible move below $200.
Spot rate: 211.43
Relative change: -2.30%
High: 216.69
Low: 209.78
ETH/USD daily chart
- Price action is moving within a bearish pennant structure as seen via the daily chart view.
ETH/USD 30-minute chart
- The price via the 30-minute chart view has broken out south from an ascending trend line of support.
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.