Ken Chigbo
Independent Analyst
- Ethereum price is trading in the red by 0.10% in the session on Wednesday.
- ETH/USD is set for further potential damage as the price consolidates within a narrow range.
- The next major support for the price is eyed at $100, a breach would be damaging.
ETH/USD daily chart
Trading conditions are tight within a pennant pattern via the daily chart view. The narrowing has been observed for going on six sessions.
ETH/USD 60-minute chart
The price has smashed out of a bearish flag to the downside, inviting further pressure south. Eyes on a possible retest.
Spot rate: 111.71
Relative change: -0.10%
High: 118.44
Low: 110.25
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