- Ethereum price on Thursday is trading in the red by some some 1.70%, as it continues to consolidate.
- ETH/USD price action via the daily chart view is being supported to the upside by a long running ascending trend line.
- The daily chart view is moving within an ascending channel formation, guiding the price higher.
Spot rate: 296.96
Relative change: -1.70%
ETH/USD 60-minute chart
- Heavy supply zone running from $295-300 price range, seen via the 60-minute.
ETH/USD daily chart
- Price action is supported to the upside by an ascending trend line, which has been guiding the bulls north.