Ethereum Price Analysis: ETH/USD narrowing price action suggests of potential trouble


  • Ethereum price is trading in the green by 4.95% in the session on Monday. 
  • ETH/USD is at risk of another potential fall, given the recent tight trading range. 
  • The price has been hit by the market bears for two consecutive weeks. 

ETH/USD weekly chart

Weekly support should be noted around $22010, failure to hold should force steep selling. The price would be vulnerable to a 2020 reversal. 

ETH/USD daily chart

Price action via the daily chart view is moving within a bearish pennant structure, subject to a breakout. 

 

Spot rate:                     228.52

Relative change:          +4.95%

High:                             230.17

Low:                              212.38

 

 

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