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Ethereum Price Prediction: ETH/USD deeper fall is looming

  • Ethereum price is trading in the red by 5.70% in the session on Monday. 
  • ETH/USD is moving within very narrowing trading conditions, with a breakout south eyed. 
  • The bears have room to capitalize, following a week recovery attempt from the bulls last week. 
Ethereum Price Prediction: ETH/USD deeper fall is looming
Ken ChigboKen ChigboIndependent Analyst

ETH/USD daily chart

Price action is moving within a bearish pennant structure, subject to a breakout the downside. 

ETH/USD 15-minute chart

Risk of a near-term ‘M’ structure via the 15-minute chart view, at risk of breaking down the neckline at $128. 

Spot rate:                     130.10

Relative change:          +6.30%

High:                             138.09

Low:                              119.36

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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