Ethereum Technical Analysis: ETH/USD the bulls are alive again
|- Ethereum price on Wednesday was seen holding gains of over 4%, as life is kicked back into the bulls across the market.
- ETH/USD has formed a descending wedge pattern, subject to a breakout to the upside.
ETH/USD 15-minute chart
- Price action has formed a bullish pennant pattern structure, subject to a breakout.
Spot rate: 108.87
Relative change: +4.10%
High: 110.16
Low: 103.76
Trend: Bullish
Support 1: 102.94, daily pivot point support.
Support 2: 101.07, daily pivot point support.
Support 3: 99.07, daily pivot point support.
Resistance 1: 106.81, daily pivot point resistance.
Resistance 2: 108.81, daily pivot point resistance.
Resistance 3: 110.68, daily pivot point resistance.
ETH/USD 60-minute chart
- Price has run into hourly resistance, seen up at $110 region, capping near-term upside.
ETH/USD daily chart
- ETH/USD is moving within a descending wedge pattern formation, subject to a potential breakout to the upside.
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