Ethereum Technical Analysis: ETH/USD bullish flag structure eyed via the daily view

Ethereum price on Thursday is nursing losses of around 1.25% in the second part of the day.
ETH/USD price action via the daily chart view is moving within somewhat of a bullish flag pattern.
Should the bulls manage to force a breakout, eyes will be on a move back to the $300 territory.

Ken Chigbo Independent Analyst

Spot rate: 243.29

Relative change: -1.20%

High: 247.62

Low: 241.48

ETH/USD

Overview
Today last price	242.61
Today Daily Change	-3.57
Today Daily Change %	-1.45
Today daily open	246.18

Trends
Daily SMA20	255.54
Daily SMA50	208.23
Daily SMA100	177
Daily SMA200	150.22

Levels
Previous Daily High	249.36
Previous Daily Low	237.78
Previous Weekly High	288.43
Previous Weekly Low	239.36
Previous Monthly High	288.43
Previous Monthly Low	159.05
Daily Fibonacci 38.2%	244.94
Daily Fibonacci 61.8%	242.2
Daily Pivot Point S1	239.52
Daily Pivot Point S2	232.86
Daily Pivot Point S3	227.94
Daily Pivot Point R1	251.1
Daily Pivot Point R2	256.02
Daily Pivot Point R3	262.68

ETH/USD 60-minute chart

Near-term price action via the 60-minute is moving within an ascending channel or possibly a bearish flag.

ETH/USD daily chart

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

Author

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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