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Ethereum Price Analysis: ETH/USD is still at danger given bear flag

  • Ethereum price is trading in the red by 1.30% in the session on Wednesday. 
  • ETH/USD trading conditions are very much narrow, as the price consolidates, risks remain tilted to the downside.
  • There is a lack of commitment being observed, given soft investor sentiment. 
Ethereum Price Analysis: ETH/USD is still at danger given bear flag
Ken ChigboKen ChigboIndependent Analyst

ETH/USD daily chart

Price action continues to remain within the confinements of a bearish flag structure. Further moves to the south are still possible. 

ETH/USD 60-minute chart

An explosive range breakout is imminent, as the price moves within a tight block formation.

Spot rate:                     131.46

Relative change:          -1.25%

High:                             133.59

Low:                              131.16

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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