Ethereum technical analysis: ETH/USD bulls are breaking out from bearish technical structure
- Ethereum price holding decent gains of 4% on Monday.
- ETH/USD bulls extend further out from a bearish pennant structure, which has contained price.
- The door has been left open for further upside, given the escape from the noted technical structure.
Spot rate: 231.66
Relative change: +4.05%
High: 236.94
Low: 222.71
ETH/USD 60-minute chart
- Near-term price action via the 60-minute chart view has seen a bearish shooting star candlestick, indicating a small pullback could be seen.
ETH/USD daily chart
- The bulls are extending north following the escape from a bearish pennant set up.
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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