Ethereum Price Analysis: ETH/USD mundane range, not helped after Constantinople delay

Ethereum price nursing losses late on Wednesday of some 1.28%.
ETH/USD remains stuck within a narrowing mundane daily trading range.

Ken Chigbo Independent Analyst

ETH/USD price continues to trade within a narrowing mundane trading range. The lack of commitment not being helped by the last-minute delay of the highly anticipated, Constantinople update.

It has been one week now since scheduled update Constantinople, being announced as delayed. The Ethereum team lead Peter Szilagyi, of the core developers at Ethereum, did confirm earlier in the week, it has been postponed until the end of February, going live on 27th February 2019.

There isn’t too much to note on the technical front, aside from the upper and lower parts of the current range. The high is seen up at the $130 area, where sellers are camped. In terms of support, the low of the range, $115. A breakout of each respective level, will likely determine the next committed trend.

ETH/USD daily chart

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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