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Ethereum Technical Analysis: ETH/USD bullish pennant pattern subject to a breakout.

  • Ethereum price on Friday is trading marginally in the green, holding very minor gains of 1%. 
  • ETH/USD continues to consolidate just above the breached bull flag formation. 
  • The next major area to tackle would be $170-180 price region, for greater upside potential.
Ethereum Technical Analysis: ETH/USD bullish pennant pattern subject to a breakout.
Ken ChigboKen ChigboIndependent Analyst

Spot rate:                  173.19

Relative change:      +1.05%

High:                         176.02

Low:                          168.26

ETH/USD

Overview
Today last price172.96
Today Daily Change2.08
Today Daily Change %1.22
Today daily open170.88
 
Trends
Daily SMA20165.29
Daily SMA50159.6
Daily SMA100144.13
Daily SMA200145
Levels
Previous Daily High175.24
Previous Daily Low166.88
Previous Weekly High172.2
Previous Weekly Low153.2
Previous Monthly High187.51
Previous Monthly Low140.14
Daily Fibonacci 38.2%170.07
Daily Fibonacci 61.8%172.05
Daily Pivot Point S1166.76
Daily Pivot Point S2162.64
Daily Pivot Point S3158.39
Daily Pivot Point R1175.12
Daily Pivot Point R2179.36
Daily Pivot Point R3183.48

ETH/USD 60-minute chart

  • Price action is narrowing within a range-block formation, subject to a near-term breakout. 

ETH/USD daily chart

  • Bulls are moving within the confinements of a pennant structure, subject to a breakout.

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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