Ethereum technical analysis: ETH/USD bullish pennant structure remains intact

  • Ethereum price is trading marginally in the green, small gains of 0.55% in the second half of Wednesday. 
  • ETH/USD continues to move within the confinements of a bullish pennant structure, subject to a potential breakout higher. 
  • Heavy near-term supply can be seen around the $280 area via the daily. 


Spot rate:                 249.35

Relative change:      +1.55%

High:                        251.72

Low:                         243.13


ETH/USD 60-minute chart

  • Near-term price action is moving within an ascending channel structure, as the bulls attempt to pick-up momentum. 


ETH/USD daily chart

  • A bullish penannt structure is observed via the daily chart view, bulls need to capitalize on. 


Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.