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Ethereum Price Analysis: If this trendline breaks it could spell trouble

Ethereum could break the bull flag pattern on the hourly chart.
There has also been a very strong trendline that has performed well on this timeframe.

Rajan Dhall, MSTA FX Daily

ETH/USD 1-Hour Chart

ETC/USD has been moving in a nice uptrend since 24th January on the hourly chart.

Now it seems the price has consolidated into a bull flag pattern.

An upside breakout will clearly be bullish for the crypto major but we need to see if the buyers regain control.

Elsewhere, on the downside, the trendline had been tested (4 times) with some shadows (wicks) managing to breach the zone.

However, there was no definitive close below the trendline so for me, it remains intact.

Additional Levels

ETH/USD

Overview
Today last price	187.86
Today Daily Change	-1.44
Today Daily Change %	-0.76
Today daily open	189.3

Trends
Daily SMA20	172.1
Daily SMA50	149.45
Daily SMA100	158.22
Daily SMA200	175.77

Levels
Previous Daily High	195.35
Previous Daily Low	186.57
Previous Weekly High	186.73
Previous Weekly Low	159.22
Previous Monthly High	186.73
Previous Monthly Low	125.81
Daily Fibonacci 38.2%	192
Daily Fibonacci 61.8%	189.92
Daily Pivot Point S1	185.46
Daily Pivot Point S2	181.62
Daily Pivot Point S3	176.67
Daily Pivot Point R1	194.25
Daily Pivot Point R2	199.19
Daily Pivot Point R3	203.03

Author

Rajan Dhall, MSTA

FX Daily

Rajan Dhall is an experienced market analyst, who has been trading professionally since 2007 managing various funds producing exceptional returns.

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