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Ethereum technical analysis: ETH/USD bullish flag remains intact

  • Ethereum price in the second half of Friday is trading in negative territory with minor losses of 0.5%. 
  • ETH/USD price action remains within the confinements of a bullish flag pattern. 
  • A return to the $300 territory appears to be within reaching distance for the bulls. 
Ethereum technical analysis: ETH/USD bullish flag remains intact
Ken ChigboKen ChigboIndependent Analyst

Spot rate:                 248.06

Relative change:      -0.50%

High:                        248.35

Low:                         248.06

ETH/USD 60-minute chart

  • Price action is ranging within a narrowing block formation seen via the 60-minute. 

ETH/USD daily chart

  • A bullish flag structure can be observed via the daily chart view, subject to a potential brekaout higher. 

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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