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.

Ken Chigbo Independent 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

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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ETH/USD 60-minute chart

ETH/USD daily chart

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