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Ethereum technical analysis: ETH/USD big barrier at $235

  • Ethereum price is nursing losses of some 4% in the latter stages of trading on Monday.
  • ETH/USD bulls continue to get hit with rejection at $235, a big daily resistance level.
  • Given the downside pressure eyes will be on the below demand for support $200-190 price range. 
Ethereum technical analysis: ETH/USD big barrier at $235
Ken ChigboKen ChigboIndependent Analyst

Spot rate:                  216.14

Relative change:      -4.25%

High:                         228.13

Low:                          212.75

ETH/USD 60-minute chart

  • A critical near-term ascending trend line of support has been breached by the bears via the 60-minute view. 

ETH/USD daily chart

  • A chunky daily barrier is seen at $235, a prior acting level of support, now heavy resistance. 

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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