Ethereum price analysis: ETH/USD subject to breakout of bearish flag

Ethereum price is trading in the red, down 4.50% the session on Thursday.
ETH/USD price action is moving within a bearish flag structure via the daily.
The price is largely capped by resistance heading into the $180 mark.

Ken Chigbo Independent Analyst

ETH/USD daily chart

Price action is limited to the upside, the bulls continue to have problems with supply heading into the $180 mark.

ETH/USD 60-minute chart

The price is moving within a rising channel structure, subject to a potential breakout south.

Spot rate: 172.78

Relative change: -4.50%

High: 181.34

Low: 170.72

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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