- Ethereum on Tuesday in the latter part of the session is nursing minor losses of 0.55%.
- ETH/USD price action is moving within a bullish pennant pattern structure, subject to a breakout.
Ethereum price in the second part of the session on Tuesday is nursing losses of over 0.55%. Price action is moving within consolidation mode, subject to further potential moves north, as the market remains within the control of the bulls.
ETH/USD price action has formed a bullish pennant pattern formation, which is subject to a breakout, given the narrowing in conditions. The bulls have taken a deep breather after a dominating recovery seen over the past few days.
Looking via the daily confluence detector for major barriers of resistance and support. Firstly, to the upside; $281.66, daily pivot point resistance, $284.46, weekly pivot point resistance. To the downside, $264.87, daily pivot point support, $259.28, weekly 23.6% Fibonacci.
ETH/USD daily confluence detector
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.