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Ethereum Price Analysis: ETH/USD set for a big retest of last week’s highs

  • Ethereum price is trading in the red by 1.00% in the session on Wednesday. 
  • ETH/USD price action is very much choppy, as seen over the last eight sessions. 
  • A chunky barrier of resistance should be noted at the $288 price mark. 
Ethereum Price Analysis: ETH/USD set for a big retest of last week’s highs
Ken ChigboKen ChigboIndependent Analyst

ETH/USD daily chart

Should the bulls break down the noted barrier noted above, then the price could fly firmly into $300. 

ETH/USD 60-minute chart

Price action has run into supply via the 60-minute is consolidating, moving with a pennant structure. 

Spot rate:                     279.84

Relative change:          -1.00%

High:                             287.03

Low:                              275.13

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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