TRENDING:
Oil price
XAU/USD
EUR/USD
Trade War
GBP/USD
Silver
Sponsored by
Login
|

Ethereum technical analysis: ETH/USD bulls guided by a channel to the north

  • 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. 
Ethereum technical analysis: ETH/USD bulls guided by a channel to the north
Ken ChigboKen ChigboIndependent Analyst

Spot rate:                  296.96

Relative change:      -1.70%

High:                         303.78

Low:                          292.38

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. 

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.

More from Ken Chigbo
Share:

Editor's Picks

Crypto Today: Bitcoin, Ethereum, XRP trade under sustained selling pressure despite mild ETF inflows

Crypto Today: Bitcoin, Ethereum, XRP trade under sustained selling pressure despite mild ETF inflows

Cryptocurrency prices remain under pressure as a risk-off mood persists on Friday, with Bitcoin consolidating its losses above $62,000. Altcoins, including Ethereum and Ripple, are extending their weakness, trading near lower support levels around $1,600 and $1.12, respectively.

Bitcoin Weekly Forecast: After the bloodbath, everyone looks at $60,000

Bitcoin Weekly Forecast: After the bloodbath, everyone looks at $60,000

Bitcoin (BTC) hovers above $62,000 at the time of writing on Friday, weighed down by growing risk-off sentiment due to persistent geopolitical tensions in the Middle East and sticky macroeconomic uncertainty.

Cardano hits five-year low even as Hoskinson clarifies "break" isn't an exit

Cardano hits five-year low even as Hoskinson clarifies "break" isn't an exit

Cardano price is down 10% at press time on Friday, extending losses over 30% so far this week amid Charles Hoskinson's clarification that "break" isn't an exit. A reactionary spike in on-chain activity and social chatter, reflecting a strength of community, but fails to absorb the price decline.

Arthur Hayes' “Holy Trinity” is dead: Exits Zcash after Orchard Pool exploit

Arthur Hayes' “Holy Trinity” is dead: Exits Zcash after Orchard Pool exploit

Arthur Hayes dumped his entire Zcash holdings on Friday, a day after selling his HYPE and NEAR holdings. Zcash is down 13% so far on Friday, extending the 26% drop from the previous day.

Bitcoin: After the bloodbath, everyone looks at $60,000

Bitcoin: After the bloodbath, everyone looks at $60,000

Bitcoin (BTC) hovers above $62,000 at the time of writing on Friday, weighed down by growing risk-off sentiment due to persistent geopolitical tensions in the Middle East and sticky macroeconomic uncertainty. The institutional sell-off continued to wreak havoc on capital flows, with spot Bitcoin Exchange-Traded Funds (ETFs) recording billions in outflows.