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Ethereum technical analysis: ETH/USD bulls must break down $195 for greater upside momentum

  • Ethereum price is trading in the green, up 2.00% the session on Tuesday.
  • ETH/USD daily double bottom formation in focus, with the neckline, eyed at $195.  
  • The next major upside target would be seen at $220 should the $195 be broken down. 
Ethereum technical analysis: ETH/USD bulls must break down $195 for greater upside momentum
Ken ChigboKen ChigboIndependent Analyst

ETH/USD daily chart

The bulls haven't quite managed to have another test of breaking down the major barrier is eyed at $195, tracking as the potential neckline of the noted double bottom. 

ETH/USD 60-minute chart

Price action is moving a triangular structure, narrowing conditions, subject to a potential breakout. 

Spot rate:                  189.37

Relative change:      +2.00%

High:                         189.37

Low:                          184.22

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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