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Ethereum Price Analysis: ETH/USD bulls rocketing 10% higher smashing out of narrow range

  • Ethereum price is trading in the green by 10.95% in the session on Monday. 
  • ETH/USD has smashed above resistance see at the $145 mark. 
  • The next major barrier for the bulls to break down was seen at $150, which has been conquered. 
Ethereum Price Analysis: ETH/USD bulls rocketing 10% higher smashing out of narrow range
Ken ChigboKen ChigboIndependent Analyst

ETH/USD weekly chart

The price produced its best weekly performance seen since the week of 6 March. 

ETH/USD daily chart

Given the recent bout of buying pressure, the bulls are set to void a bearish ascending wedge structure. 

Spot rate:                     158.12

Relative change:          +10.95%

High:                             158.25

Low:                              142.88

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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