Ethereum technical analysis: ETH/USD bearish pennant structure subject to breakout and a fresh wave of selling pressure

  • Ethereum price in the second half of Tuesday is trading in the red, down some 2.50%. 
  • ETH/USD price action remains stuck within a bearish pennant structure, subject to a breakout. 
  • Price action via the daily chart view is constructing a potential inverse head and shoulders pattern.


Spot rate:                 205.46

Relative change:      -2.50%

High:                        211.39

Low:                         208.01


Today last price 205.39
Today Daily Change -5.97
Today Daily Change % -2.82
Today daily open 211.36
Daily SMA20 217.15
Daily SMA50 249.7
Daily SMA100 247.06
Daily SMA200 194.22
Previous Daily High 216.7
Previous Daily Low 209.79
Previous Weekly High 239.56
Previous Weekly Low 206.63
Previous Monthly High 318.46
Previous Monthly Low 190.64
Daily Fibonacci 38.2% 212.43
Daily Fibonacci 61.8% 214.06
Daily Pivot Point S1 208.53
Daily Pivot Point S2 205.7
Daily Pivot Point S3 201.62
Daily Pivot Point R1 215.44
Daily Pivot Point R2 219.52
Daily Pivot Point R3 222.35


ETH/USD daily chart

  • Price action is stuck within a bearish pennant structure, subject to a breakout.

ETH/USD 60-minute chart

  •  Buyers are trying to protect the psychological $200, which remains vulnerable.

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