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Ethereum technical analysis: ETH/USD continues to retest the breached flag structure; platform for the bulls to capitalize

  • Ethereum in the second half of Monday is trading marginally in the green with gains of some 0.70%.
  • ETH/USD continues to retest a breached bullish flag pattern formation via the daily. 
  • The price is running at its fourth consecutive session in the green, as the bulls look to regather bull steam. 
Ethereum technical analysis: ETH/USD continues to retest the breached flag structure; platform for the bulls to capitalize
Ken ChigboKen ChigboIndependent Analyst

Spot rate:                 309.34

Relative change:      +0.94%

High:                        311.89

Low:                         302.59

ETH/USD 60-minute chart

  • Near-term supply can be observed around the $310 territory, capping upside for now.

ETH/USD daily chart

  • The price via the daily chart view continues to flirt with a breached flag structure. 

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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