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Ethereum technical analysis: ETH/USD bulls dealing with rejection as price retests breached pennant

  • Ethereum price is trading in minor negative territory, small losses of some 0.10% on Monday.
  • ETH/USD bulls have a challenge of breaking down a heavy barrier, which runs from $180 up to $200.
  • The price is attempting to stage a rebound, following the brutal selling that has been observed since late June. 
Ethereum technical analysis: ETH/USD bulls dealing with rejection as price retests breached pennant
Ken ChigboKen ChigboIndependent Analyst

Spot rate:                 181.84

Relative change:      -0.10%

High:                         186.12

Low:                          176.26

ETH/USD

Overview
Today last price182.14
Today Daily Change0.43
Today Daily Change %0.24
Today daily open181.71
 
Trends
Daily SMA20180.6
Daily SMA50200.1
Daily SMA100235.82
Daily SMA200203.2
Levels
Previous Daily High184.7
Previous Daily Low176.62
Previous Weekly High182.97
Previous Weekly Low165.17
Previous Monthly High239.56
Previous Monthly Low163.8
Daily Fibonacci 38.2%181.62
Daily Fibonacci 61.8%179.71
Daily Pivot Point S1177.32
Daily Pivot Point S2172.93
Daily Pivot Point S3169.24
Daily Pivot Point R1185.4
Daily Pivot Point R2189.09
Daily Pivot Point R3193.48

ETH/USD daily chart

  • The price is heading back through a chunky area of supply, $180-200 range.

ETH/USD 60-minute chart

  • Price action has broken out from a bullish flag formation, subject to a retest given current pullback observed. 

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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