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.

Ken Chigbo Independent 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 price	135.63
Today Daily Change	-3.39
Today Daily Change %	-2.44
Today daily open	139.02

Trends
Daily SMA20	157.42
Daily SMA50	208.24
Daily SMA100	178.84
Daily SMA200	176.77

Levels
Previous Daily High	144.05
Previous Daily Low	133.1
Previous Weekly High	153.32
Previous Weekly Low	100.73
Previous Monthly High	288.7
Previous Monthly Low	179.06
Daily Fibonacci 38.2%	139.87
Daily Fibonacci 61.8%	137.28
Daily Pivot Point S1	133.4
Daily Pivot Point S2	127.78
Daily Pivot Point S3	122.45
Daily Pivot Point R1	144.35
Daily Pivot Point R2	149.67
Daily Pivot Point R3	155.29

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