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Ethereum technical analysis: ETH/USD vulnerabilities remain tilted to the downside

  • Ethereum price is trading in negative territory, nursing losses of some 1.70% on Friday.
  • ETH/USD is seeing a lack of direction, no commitment at present. 
  • The price is moving within a bearish pennant via the daily, as seen with some of its peers. 
Ethereum technical analysis: ETH/USD vulnerabilities remain tilted to the downside
Ken ChigboKen ChigboIndependent Analyst

Spot rate:                 215.61

Relative change:      -1.63%

High:                         219.31

Low:                          212.84

ETH/USD 60-minute chart

  • Near-term ascending trend line is being tested to the downside by the bears via 60-minute chart.

ETH/USD daily chart

  • Price action via the daily is stuck within the confinements of a bearish pennant. 

Author

Ken Chigbo

Ken Chigbo

Independent Analyst

Ken has over 8 years exposure to the financial markets. He started his career as an analyst, covering a variety of asset classes; forex, fixed income, commodities and equities.

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