Ethereum technical analysis: ETH/USD bulls have room for push back into $300 territory

Ethereum price in the second half of the session on Monday is trading ever so marginally in positive territory, small gains of around 0.15%.
ETH/USD bulls have made a breakout out from a triangular pattern/pennant, via the daily chart view.
Crucial near-term supply can be observed via the daily from $270-280 price range.

Ken Chigbo Independent Analyst

Spot rate: 268.32

Relative change: +0.15%

High: 272.48

Low: 264.43

ETH/USD

Overview
Today last price	268.32
Today Daily Change	-0.07
Today Daily Change %	-0.03
Today daily open	268.39

Trends
Daily SMA20	224.8
Daily SMA50	190.16
Daily SMA100	164.91
Daily SMA200	147.79

Levels
Previous Daily High	271.91
Previous Daily Low	245.88
Previous Weekly High	264.65
Previous Weekly Low	231.05
Previous Monthly High	187.51
Previous Monthly Low	140.14
Daily Fibonacci 38.2%	261.97
Daily Fibonacci 61.8%	255.83
Daily Pivot Point S1	252.21
Daily Pivot Point S2	236.03
Daily Pivot Point S3	226.18
Daily Pivot Point R1	278.24
Daily Pivot Point R2	288.09
Daily Pivot Point R3	304.27

ETH/USD 60-minute chart

Price action at present is moving within consolidation mode seen via the 60-minute chart view, subject to a potential extended move to the upside.

ETH/USD daily chart

The daily candlestick during the session on Sunday forced a breakout from the noted pennant pattern, a further follow-through has been observed in Monday's session.

Author

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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