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Ethereum technical analysis: ETH/USD bulls heading for big barrier retest at $220-235

  • Ethereum price is trading in positive territory, with gains of some 2.95% on Wednesday.
  • ETH/USD price action via the daily chart view is running at its seventh consecutive session in the green. 
  • A large barrier of resistance is observed within the supply range of $220 up to $235.
Ethereum technical analysis: ETH/USD bulls heading for big barrier retest at $220-235
Ken ChigboKen ChigboIndependent Analyst

Spot rate:                 214.10

Relative change:      +2.95%

High:                         217.60

Low:                          207.97

ETH/USD daily chart

  • The bulls are heading for a big retest of a significant zone of supply $220-235 range. 

ETH/USD 60-minute chart

  • Near-term price action via the 60-minute chart view is just within consolidation mode, narrowing, ahead of further committed moves. 

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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