- Ethereum price is trading in the red by -0.80% in the session on Wednesday.
- The bulls pressed for a big double-digit rally on Tuesday, breaking out of a bearish trend structure.
- In terms of upside targets, the door has been left open for a return into $200.
ETH/USD weekly chart
The current weekly candle is on course for its best performance since the week commencing 20 September. Bulls are running towards the fourth consecutive in the green.
ETH/USD daily chart
Price action since June 2019 had been stuck within the market structure of producing lower highs and lower lows. However, the bulls in the session of Tuesday broke above the prior lower high, effectively voiding the structure.
Spot rate: 164.33
Relative change: -0.85%
High: 171.67
Low: 143.50
Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Recommended Content
Editors’ Picks
Bitcoin price could retrace to $42,000 if US Nonfarm Payroll comes in at 180,000

Bitcoin price just like other assets, is highly impacted by the macro-financial developments. This includes the Nonfarm Payrolls (NFP) report released by the BLS of the United States. This time around, the NFP data is expected to cause a dip in the value of BTC.
Ripple is now only 3% away from becoming a bigger entity than Binance Coin
Ripple has overcome a lot of obstacles on its way to becoming the world’s fifth-largest cryptocurrency, as witnessed by the recent rise in XRP price. The native token of the world’s biggest crypto exchange, Binance Coin, on the other hand, has been moving in the opposite direction.
Ethereum leads altcoins north as Bitcoin halts amid bull trap fears

Ethereum (ETH) price remains northbound, unrelenting despite the king of cryptocurrency, Bitcoin, showing weakness. Behavior analytics tool Santiment observes that Ether and altcoins are on a tear even as BTC momentum fades.
BTC headstrong as Spot ETF talks reach technical stage

Bitcoin remains steadfast on the higher timeframe, amid news that spot BTC exchange-traded funds (ETF) discussions are now at the technical stage of approval. Specifically, talks with Spot BTC ETF issuers have advanced to key technical details, with Reuters indicating that it could signal a shift toward a potential approval.
Bitcoin Weekly Forecast: BTC uptrend capped by supply barrier at $43,860 as FOMO fails to suffice

Bitcoin (BTC) price uptrend has sustained since mid-September on the weekly timeframe but has since slowed down following the lack of tailwinds to drive the market. All along, narratives, themes and speculation were the driving factors, inspiring a wave of fear of missing out (FOMO) in the market. As it turns out, FOMO is not enough anymore.