Ethereum Technical Analysis: ETH/USD bulls burst higher into positive territory

  • The Etheruem price on Thursday was trading in minor positive territory into the second half of the session, up 0.10%.  
  • Bulls managed to break above a descending trend line that had been containing price within recent trading, via the 15-minute chart view.
  • Over the longer time frame, price action is still within a very stubborn range.  


ETH/USD 15-minute chart


Spot rate:                  90.79

Relative change:      +0.10%

High:                         91.54

Low:                          88.54



Trend:                        Neutral


Support 1:                  89.97, breached descending trend line.

Support 2:                  87.58, daily pivot point support.

Support 3:                  84.59, daily pivot point support.

Resistance 1:             92.35, near-term supply. 

Resistance 2:             93.06, daily pivot point resistance.

Resistance 3:             95.57, daily pivot point resistance.


ETH/USD 60-minute chart

  • Bulls have a challenge of trying to break down the highlighted stubborn supply zone, in the way of greater upside.

ETH/USD daily chart

  • Stubborn range block, as seen across the market, proving to be a problem for both camps. Vulnerabilities remain to the downside. 



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