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Ethereum Price Analysis: ETH/USD supply remains very heavy from $140-150

  • Ethereum price is trading in the red by 3.30% in the session on Wednesday. 
  • ETH/USD is losing ground with price still in consolidation mode, with range breakout nearing.
  • Bearish flag at risk of a breach to the downside as the price narrows. 
Ethereum Price Analysis: ETH/USD supply remains very heavy from $140-150
Ken ChigboKen ChigboIndependent Analyst

ETH/USD daily chart

The price has been moving within a bearish flag structure since 13 March, which would invite another bout of selling pressure if broken. 

ETH/USD 60-chart

Price action is breaking out to the downside from a narrowing range block formation. 

Spot rate:                     134.60

Relative change:          -3.30%

High:                             142.55

Low:                              132.82

ETH/USD

Overview
Today last price135.63
Today Daily Change-3.39
Today Daily Change %-2.44
Today daily open139.02
 
Trends
Daily SMA20157.42
Daily SMA50208.24
Daily SMA100178.84
Daily SMA200176.77
 
Levels
Previous Daily High144.05
Previous Daily Low133.1
Previous Weekly High153.32
Previous Weekly Low100.73
Previous Monthly High288.7
Previous Monthly Low179.06
Daily Fibonacci 38.2%139.87
Daily Fibonacci 61.8%137.28
Daily Pivot Point S1133.4
Daily Pivot Point S2127.78
Daily Pivot Point S3122.45
Daily Pivot Point R1144.35
Daily Pivot Point R2149.67
Daily Pivot Point R3155.29

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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