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Ethereum technical analysis: ETH/USD bears force breakout of near-term pennant structure

  • Ethereum price in the session on Monday is trading with losses of some 1.50%.
  • ETH/USD bears are forcing the price to head back down south for a big retest of an ascending trend line of support, tracking around $200.
  • The price is running at its fourth consecutive session in the red, after losing upside momentum.
Ethereum technical analysis: ETH/USD bears force breakout of near-term pennant structure
Ken ChigboKen ChigboIndependent Analyst

Spot rate:                 207.80

Relative change:      -1.50%

High:                         211.77

Low:                          204.31

ETH/USD

Overview
Today last price207.98
Today Daily Change-3.18
Today Daily Change %-1.51
Today daily open211.16
 
Trends
Daily SMA20190.97
Daily SMA50194.71
Daily SMA100228.2
Daily SMA200207.12
 
Levels
Previous Daily High215.55
Previous Daily Low206.24
Previous Weekly High224.69
Previous Weekly Low186.44
Previous Monthly High239.56
Previous Monthly Low163.8
Daily Fibonacci 38.2%209.8
Daily Fibonacci 61.8%212
Daily Pivot Point S1206.41
Daily Pivot Point S2201.66
Daily Pivot Point S3197.09
Daily Pivot Point R1215.73
Daily Pivot Point R2220.3
Daily Pivot Point R3225.05

ETH/USD daily chart

  • The price is subject to retesting a critical ascending trend line of support via the daily view.

ETH/USD 60-minute chart

  • Price action has broken out from a bearish pennant structure, subject to further selling pressure. 

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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