Ethereum Price Analysis: ETH/USD breaking down $100 could be very punishing this time

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.

Ken Chigbo Independent Analyst

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

ETH/USD

Overview
Today last price	116.08
Today Daily Change	-0.08
Today Daily Change %	-0.07
Today daily open	116.16

Trends
Daily SMA20	189.99
Daily SMA50	215.35
Daily SMA100	179.82
Daily SMA200	178.23

Levels
Previous Daily High	121.33
Previous Daily Low	109.8
Previous Weekly High	237.78
Previous Weekly Low	89.65
Previous Monthly High	288.7
Previous Monthly Low	179.06
Daily Fibonacci 38.2%	116.93
Daily Fibonacci 61.8%	114.21
Daily Pivot Point S1	110.2
Daily Pivot Point S2	104.23
Daily Pivot Point S3	98.66
Daily Pivot Point R1	121.73
Daily Pivot Point R2	127.3
Daily Pivot Point R3	133.27

Author

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.

Official Trump price approaches breakout with mixed signals from traders

Official Trump (TRUMP) is trading at $3.50 at the time of writing, approaching its upper consolidation range. A breakout from this range could open the door for an upside move. On-chain data shows market indecision, with balanced flows between bulls and bears, signaling a lack of clear directional bias.