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Ethereum Price Analysis: ETH/USD must break above $200 to escape the bear market

  • Ethereum price is trading in the green by 6.35% in the session on Wednesday. 
  • ETH/USD remains stuck within the confinements of a bearish flag structure. 
  • Price action has been consolidating since 13 March, after the falling. 
Ethereum Price Analysis: ETH/USD must break above $200 to escape the bear market
Ken ChigboKen ChigboIndependent Analyst

ETH/USD daily chart

Supply remains heavy from the range of $175 up to $190, ahead of the $200 retest. 

ETH/USD 60-minute chart

Price action smashed out to the upside from a bullish pennant structure, inviting a fresh wave of buying pressure, hourly supply zone seen just ahead.

Spot rate:                      153.38

Relative change:          +6.35%

High:                             183.39

Low:                              170.06

ETH/USD

Overview
Today last price182.27
Today Daily Change11.29
Today Daily Change %6.60
Today daily open170.98
 
Trends
Daily SMA20162.34
Daily SMA50158.15
Daily SMA100184.74
Daily SMA200172.19
 
Levels
Previous Daily High174.84
Previous Daily Low168.42
Previous Weekly High175.11
Previous Weekly Low148.3
Previous Monthly High252.76
Previous Monthly Low89.65
Daily Fibonacci 38.2%172.39
Daily Fibonacci 61.8%170.87
Daily Pivot Point S1167.98
Daily Pivot Point S2164.98
Daily Pivot Point S3161.55
Daily Pivot Point R1174.41
Daily Pivot Point R2177.84
Daily Pivot Point R3180.84

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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