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Ethereum Technical Analysis: ETH/USD bears push price back within flag structure

  • Ethereum price is trading in the red by +0.60% in the session on Friday. 
  • Price action is running at its fourth consecutive session in the red, as the bears maintain full control.
  • Vulnerabilities remain tilted to the downside, with rallies at risk of continuing to be sold. 
Ethereum Technical Analysis: ETH/USD bears push price back within flag structure
Ken ChigboKen ChigboIndependent Analyst

ETH/USD weekly chart

The price is running towards its third potential consecutive week in the green, it comes after six straight weeks in the red. Weekly resistance should be noted at $150, descending trend line. 

ETH/USD daily chart

Price action has been forced to trade back within a bearish flag structure via the daily chart view. 


 

Spot rate:                      138.74

Relative change:          +0.60%

High:                             139.80

Low:                              135.18

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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