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Ethereum technical analysis: ETH/USD bearish flag structure remains subject to a breakout

  • Ethereum price is trading in the red, down 0.15% the session on Wednesday. 
  • ETH/USD trading conditions are extremely tight, as the price moves within a flag pattern. 
  • The price over the last 11 days has been moving within a $5-7 range. 
Ethereum technical analysis: ETH/USD bearish flag structure remains subject to a breakout
Ken ChigboKen ChigboIndependent Analyst

ETH/USD 60-minute chart

Price action via the 60-minute chart view remains bearish, moving within a pennant structure, vulnerable to downside risks. 

ETH/USD daily chart

The range via the daily remains narrow, to the high of $150, a big barrier and to the low of $145. A tight $5 range, which continues to contain the price. 

Spot rate:                  145.64

Relative change:      -0.15%

High:                           146.48

Low:                           144.99

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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