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

Spot rate:                 205.46

Relative change:      -2.50%

High:                        211.39

Low:                         208.01

ETH/USD

Overview
Today last price205.39
Today Daily Change-5.97
Today Daily Change %-2.82
Today daily open211.36
 
Trends
Daily SMA20217.15
Daily SMA50249.7
Daily SMA100247.06
Daily SMA200194.22
Levels
Previous Daily High216.7
Previous Daily Low209.79
Previous Weekly High239.56
Previous Weekly Low206.63
Previous Monthly High318.46
Previous Monthly Low190.64
Daily Fibonacci 38.2%212.43
Daily Fibonacci 61.8%214.06
Daily Pivot Point S1208.53
Daily Pivot Point S2205.7
Daily Pivot Point S3201.62
Daily Pivot Point R1215.44
Daily Pivot Point R2219.52
Daily Pivot Point R3222.35

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.

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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