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Ethereum Technical Analysis: ETH/USD continuing to test critical $140 support

  • Ethereum price is trading in the red by some 0.13% the session on Thursday. 
  • ETH/USD is further extending to the downside following flag breakout. 
  • The price is running towards its fourth consecutive session in the red.  
Ethereum Technical Analysis: ETH/USD continuing to test critical $140 support
Ken ChigboKen ChigboIndependent Analyst

ETH/USD weekly chart

The price is running at its fifth consecutive week in the red, having lost as much as 30%. It should be noted that decent weekly support is eyed at $130. An area that supported the price through much of March. 

ETH/USD daily chart

Critical daily support eyed at $140, failure to hold would likely invite a fresh wave of selling pressure. Eyes on a possible double bottom via the daily view. 

Spot rate:                  143.59

Relative change:       -0.30%

High:                           146.48

Low:                            144.99

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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