Ethereum Price Analysis: ETH/USD bulls will need a big push to prevent double top formation

Ethereum price is trading in the green by 1.80% in the session on Thursday.
ETH/USD price action is flirting with the upper acting trend line of a bullish channel structure.
A double top formation can be observed via the daily chart view.

Ken Chigbo Independent Analyst

ETH/USD daily chart

Price action is moving within an ascending channel structure via the daily chart view.

ETH/USD 60-minute chart

A near-term bearish flag structure can be observed via the 60-minute chart view.

Spot rate: 176.60

Relative change: +1.80%

High: 177.18

Low: 170.60

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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