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Ethereum technical analysis: ETH/USD bulls are running free

  • Ethereum price on Friday is trading with chunky gains of over 6% late in the session. 
  • ETH/USD price action has broken out from a bullish pennant structure, inviting much buying pressure. 
  • A return into the $300 price territory is eyed, last traded up at these heights in September 2018.
Ethereum technical analysis: ETH/USD bulls are running free
Ken ChigboKen ChigboIndependent Analyst

Spot rate:                 290.05

Relative change:      6.90%

High:                        291.87

Low:                         272.19

ETH/USD 60-minute chart

  • Near-term supply zone needs to be broken down, $290-292 price range.

ETH/USD daily chart

  • Bullish pennant structure has been breached by the market bulls, inviting another wave of buying pressure.

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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