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Ethereum technical analysis: ETH/USD bulls knocking on the gates of greater gains

  • Ethereum price on Tuesday is trading in the red marginally, losses of just some 0.25%.
  • ETH/USD bulls over the last four days have seen upside capped somewhat by $320. 
  • Price action is forming a bullish pennant structure, which can be seen via the lower time frame. 
Ethereum technical analysis: ETH/USD bulls knocking on the gates of greater gains
Ken ChigboKen ChigboIndependent Analyst

Spot rate:                 310.30

Relative change:      -2.80%

High:                        315.19

Low:                         305.78

ETH/USD 60-minute chart

  • Price action is moving within a bullish pennant structure via the 60-minute chart view. 

ETH/USD daily chart

  • The price over the last four sessions has been capped by resistance around $320.  

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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