Ethereum Price Analysis: ETH/USD critical daily support being tested at $160


  • Ethereum price is trading in the red by 0.80% in the session on Tuesday. 
  • Critical weekly support is being tested by the bears at the $165 mark. 
  • Near-term price behaviour shows some vulnerabilities to the downside for ETH.

 

ETH/USD daily chart

Price action via the daily view has been consolidating for the last seven sessions. Next committed move is imminent.

 

ETH/USD 60-minute chart

Near-term price action is moving within a bearish flag structure, should the bears capitalize on this, selling pressure could be harsh. 

 

Spot rate:                      168.20         

Relative change:          -0.80%

High:                            168.78

Low:                             165.41

 

 

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