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Ethereum Price Analysis: ETH/USD bulls smashing barrier at $230

  • Ethereum price is trading in the green by 5.00% in the session on Tuesday. 
  • ETH/USD is breaking down a chunky area of supply, that runs from $220-230. 
  • The next likely target for the bulls to the north is eyed up at $250. 
Ethereum Price Analysis: ETH/USD bulls smashing barrier at $230
Ken ChigboKen ChigboIndependent Analyst

ETH/USD daily chart

The price has not traded above the noted area $220-230 since July 2019, when the mark was heavily in control of the bears. 

ETH/USD 60-minute chart

Price action via the 60-minute chart view is breaking out of a narrowing range block formation. 


 

Spot rate:                     221.10  

Relative change:          +5.00%

High:                             235.29

Low:                              232.43

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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