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Ethereum technical analysis: ETH/USD critical daily triangular structure breakout

  • Ethereum price is trading marginally in the red, down 1.60% the session on Monday.
  • ETH/USD bears have broken out to the downside from a daily narrowing triangular structure. 
  • Next major support to the downside is eyed down at $165-160 range. 
Ethereum technical analysis: ETH/USD critical daily triangular structure breakout
Ken ChigboKen ChigboIndependent Analyst

ETH/USD weekly chart

Price action via the weekly has done little since late August, tight trading conditions. 

ETH/USD daily chart

A breakout of a three-week range is eyed given the triangular breach via the daily. 

Spot rate:                 181.21

Relative change:      -1.55%

High:                         184.23

Low:                          180.69

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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