- 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.
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%
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