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Ethereum technical analysis: ETH/USD bullish flag retest held, leaving room for further upside

  • Ethereum price is holding decent gains of some 4% on Friday in the second part of the session. 
  • ETH/USD price action is retesting a breached bullish flag formation seen via the daily. 
  • The price underwent a large correction on Thursday, which has seen the bulls buy those dips. 
Ethereum technical analysis: ETH/USD bullish flag retest held, leaving room for further upside
Ken ChigboKen ChigboIndependent Analyst

Spot rate:                 305.15

Relative change:      +4.05%

High:                        308.62

Low:                         290.26

ETH/USD 60-minute chart

  • A bearish flag formation can be seen via the 60-minute chart view, subject to a possible breakout. 

ETH/USD daily chart

  • Price is retesting a breached bullish flag formation, as the bulls stage a strong rebound. 

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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