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Ethereum technical analysis: ETH/USD critical support gives way

  • Ethereum price is trading in the red, down 0.25% the session on Thursday.
  • ETH/USD door is left wide open for bears to further capitalize, following critical flag breach.
  • The next major support is eyed at $155, failure to hold could subject ETH to another wave of selling pressure.  
Ethereum technical analysis: ETH/USD critical support gives way
Ken ChigboKen ChigboIndependent Analyst

ETH/USD daily chart

A failure to hold critical support of $155, would then see the psychological $100 come into the picture. 

ETH/USD 60-minute chart

Price action is moving within a near term bearish flag formation, subject to a potential breach. 

Spot rate:                  162.20

Relative change:      -0.25%

High:                         164.08

Low:                          162.20

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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