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Ethereum technical analysis: ETH/USD bulls still have room to largely capitalize on technical set up

  • Ethereum price on Thursday is trading marginally in the red, nursing minor losses of just some 0.05%. 
  • ETH/USD continues to move within a bullish pennant pattern formation. 
  • Price action is narrowing subject to an imminent potential breakout. 
Ethereum technical analysis: ETH/USD bulls still have room to largely capitalize on technical set up
Ken ChigboKen ChigboIndependent Analyst

Spot rate:                 269.09

Relative change:      -0.05%

High:                        271.44

Low:                         266.72

ETH/USD 60-minute chart

  • Near-term price action is narrowing within a triangular structure, subject to a breakout. 

ETH/USD daily chart

  • A bullish pennant structure is eyed via the daily chart view, with still the scope for the bulls to capitalise. 

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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