Ethereum Price Analysis: ETH/USD has a big bull opportunity if $185-190 is broken down

Ethereum price is trading in the red by 0.55% in the session on Monday.
ETH/USD moving within consolidation mode, with market commitment nearing.
Heavy supply should be noted at the range of $180-190, capping upside.

Ken Chigbo Independent Analyst

ETH/USD weekly chart

The market bulls are enjoying a three consecutive week run to the upside. However, weekly resistance remains tough at $190.

ETH/USD daily chart

Price action has been somewhat narrowing over the last two sessions, after a strong bull flag breakout.

Spot rate: 153.38

Relative change: -0.55%

High: 186.67

Low: 173.35

ETH/USD

Overview
Today last price	179.82
Today Daily Change	-0.56
Today Daily Change %	-0.31
Today daily open	180.38

Trends
Daily SMA20	158.73
Daily SMA50	160.32
Daily SMA100	184.22
Daily SMA200	172.26

Levels
Previous Daily High	188.8
Previous Daily Low	176.55
Previous Weekly High	175.11
Previous Weekly Low	148.3
Previous Monthly High	252.76
Previous Monthly Low	89.65
Daily Fibonacci 38.2%	181.23
Daily Fibonacci 61.8%	184.12
Daily Pivot Point S1	175.02
Daily Pivot Point S2	169.66
Daily Pivot Point S3	162.77
Daily Pivot Point R1	187.27
Daily Pivot Point R2	194.16
Daily Pivot Point R3	199.52

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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