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Ethereum Price Analysis: ETH/USD heading for a critical retest of last week’s high area

  • Ethereum price is trading in the green by 2.50% in the session on Tuesday. 
  • ETH/USD has been rallying for three straight days, as the bulls resume control, following a cooling period. 
  • The price must break above last week’s high area current resistance, for greater upside pressure. 
Ethereum Price Analysis: ETH/USD heading for a critical retest of last week’s high area
Ken ChigboKen ChigboIndependent Analyst

ETH/USD daily chart

Price action is running at three consecutive sessions in the green, after smashing out from a bullish flag structure. 

ETH/USD 60-minute chart

The price via the 60-minute chart view has also broken out of a bullish flag, as the price moves to session highs.

Spot rate:                    174.50 

Relative change:          2.50%

High:                             174.50

Low:                              169.94

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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