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Ethereum Technical Analysis: ETH/USD bulls breaking down the $140 barrier for greater buying pressure

  • Ethereum price is trading in the green by 4.30% in the session on Monday. 
  • ETH/USD is seeing momentum to the upside as the price breaks out from a narrowing range.
  • A breakdown of the $140 barrier is utmost critical for the Ethereum price recovery. 
Ethereum Technical Analysis: ETH/USD bulls breaking down the $140 barrier for greater buying pressure
Ken ChigboKen ChigboIndependent Analyst

ETH/USD daily chart

The daily price action had been capped between a high of $135 down to a low of $125, the bulls are now breaking this down.  

ETH/USD 60-minute chart

Bulls are retesting a breached 4-hour support eyed at $141.50, after topping within the $142 price region. 

Spot rate:                     141.19

Relative change:          +4.30%

High:                            142.98

Low:                             134.92

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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