Ethereum Price Analysis: ETH/USD bulls have a big opportunity for greater gains

Ethereum price is trading in the green by 0.80% in the session on Monday.
ETH/USD has resumed momentum to the upside following cooling between 18-25 January.
The bulls are running towards the second session in the green, following four straight days of losses.

Ken Chigbo Independent Analyst

ETH/USD weekly chart

A strong area of weekly supply should be noted at the range of $175-180. A break here can open the door to greater moves north.

ETH/USD daily chart

Price action has broken out of a bullish flag structure via the daily, inviting further pressure north.

Spot rate: 169.80

Relative change: +1.35%

High: 170.56

Low: 165.01

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.

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