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

ETH/USD

Overview
Today last price 205.39
Today Daily Change -5.97
Today Daily Change % -2.82
Today daily open 211.36
 
Trends
Daily SMA20 217.15
Daily SMA50 249.7
Daily SMA100 247.06
Daily SMA200 194.22
Levels
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.

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.

Cryptos feed

Latest Crypto News


Latest Crypto News & Analysis

Editors’ Picks

Bitcoin unstoppable push to $12,000, China piloting digital currency in cities

BTC/USD again failed in the journey to overcome the resistance at $12,000. The bullish leg made it above the resistance at $11,600 but hit the next hurdle at $11,800.

More Bitcoin News

XRP/USD on the verge of a triangle breakout, is $0.32 within reach?

Ripple price has been narrowing within a falling triangle pattern for two weeks now. The retreat followed an impressive price action that has seen XRP rally from July lows at $0.1740. 

More Ripple News

ETH/USD persistent bullish push yields breakout to two-year high

Ethereum rallied to a two year high this week after stepping above $430. However, the rising value of Ether has not shifted the attention from the skyrocketing gas fees that are now said to be hurting the decentralized finance ecosystem.

More Ethereum News

Cardano Market Update: Bulls stay in control as staked ADA count crosses ten billion

With over ten billion ADA being staked and more than 920 active staking pools, Cardano appears to have reached a new milestone. After the recent Shelley upgrade, users have been able to stake their ADA ...

More TRON news

BEST CRYPTO BROKERS/EXCHANGES

Bitcoin Weekly Forecast: BTC hit the pause button before a decisive breakthrough

Bitcoin lived through a wild roller-coaster move during the previous weekend. The coin hit the new 2020 high above $12,000 and crashed to $10,500 in a matter of hours. 

Read the weekly forecast

BTC

ETH

XRP