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Ethereum Price Analysis: ETH/USD bear flag remains a big risk

  • Ethereum price is trading in the green by 0.40% in the session on Tuesday. 
  • ETH/USD is running at two consecutive sessions in the red, after $190 rejection. 
  • Price action remains within the confinements of a bearish flag structure. 
Ethereum Price Analysis: ETH/USD bear flag remains a big risk
Ken ChigboKen ChigboIndependent Analyst

ETH/USD daily chart

The price has been grinding higher since bouncing back from harsh selling in March, forming a flag pattern from 13 March. A breakout south would invite a fresh wave of downside pressure. 

ETH/USD 60-minute chart

A near-term flag is observed via the 60-minute chart, of which the bears have forced a breakout to the downside. 

Spot rate:                      171.32

Relative change:          +0.40%

High:                             174.84

Low:                              168.41

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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