Ethereum Price Analysis: ETH/USD vulnerabilities given bearish daily candle


  • Ethereum price is trading in the red by -0.80% in the session on Thursday. 
  • The daily candle on Wednesday produces a doji candlestick to indicate a potential reversal. 
  • In terms next major zone of support, this is seen from a range of $160-150. 

 

ETH/USD daily chart

Price action via the daily expresses some vulnerabilities to the downside, given the recent doji candlestick formation.  

ETH/USD 60-minute chart

Despite the bearish doji candlestick closure on Wednesday, there is some hope of upside given the near-term flag structure. 

 

Spot rate:                    161.19               

Relative change:          -3.00%

High:                            167.16

Low:                             158.39

 

 

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