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Ethereum Price Analysis: ETH/USD at risk of a potential bear flag

  • Ethereum price is trading in the red by 3.60% in the session on Friday. 
  • ETH/USD price action is flirting with the breached top area around $177-175.
  • The bulls managed to push to the highest level since mid-November 2019. 
Ethereum Price Analysis: ETH/USD at risk of a potential bear flag
Ken ChigboKen ChigboIndependent Analyst

ETH/USD weekly chart

Price action is moving within an ascending channel structure via the weekly chart view,  also viewable as a bearish flag. 

ETH/USD daily chart

A heavy amount of near-term supply should be noted at the range of $170-190 via the daily chart. 

Spot rate:                     177.80

Relative change:          -3.60%

High:                             185.49

Low:                              175.05

ETH/USD

Overview
Today last price180.04
Today Daily Change-4.44
Today Daily Change %-2.41
Today daily open184.48
 
Trends
Daily SMA20164.96
Daily SMA50146.08
Daily SMA100157.57
Daily SMA200177.25
 
Levels
Previous Daily High186.73
Previous Daily Low170.61
Previous Weekly High177.88
Previous Weekly Low155.21
Previous Monthly High153.16
Previous Monthly Low116.41
Daily Fibonacci 38.2%180.57
Daily Fibonacci 61.8%176.77
Daily Pivot Point S1174.48
Daily Pivot Point S2164.48
Daily Pivot Point S3158.36
Daily Pivot Point R1190.6
Daily Pivot Point R2196.73
Daily Pivot Point R3206.73

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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