Ethereum technical analysis: ETH/USD subject to a potential explosive breakout given daily narrowing
|- Ethereum on Tuesday is trading marginally in the green, small gains of some 0.90%
- ETH/USD like many of the other major cryptocurrencies is trading within a narrowing pennant structure.
- Heavy defending can be seen at the psychological $200 price mark.
Spot rate: 212.09
Relative change: +0.66%
High: 214.54
Low: 204.09
ETH/USD 60-minute chart
- Decent near-term demand zone is observed from $205-200 price range.
ETH/USD daily chart
- A daily pennant structure continues to contain the price within a bearish pennant.
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