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Ethereum technical analysis: ETH/USD facing rejection retesting bearish penannt and $200 mark

  • Ethereum price is trading in negative territory, nursing losses of some 2.60% on Friday.
  • ETH/USD is retesting a breached daily pennant structure, failing to push above at the time of writing. 
  • The pychological $200 mark is now proving to see sellers preventing the price push back above. 
Ethereum technical analysis: ETH/USD facing rejection retesting bearish penannt and $200 mark
Ken ChigboKen ChigboIndependent Analyst

Spot rate:                 196.78

Relative change:      -1.63%

High:                         202.96

Low:                          194.91

ETH/USD

Overview
Today last price197.06
Today Daily Change-5.38
Today Daily Change %-2.66
Today daily open202.44
 
Trends
Daily SMA20211.27
Daily SMA50235.41
Daily SMA100248.49
Daily SMA200196.64
Levels
Previous Daily High203.69
Previous Daily Low193.06
Previous Weekly High216.79
Previous Weekly Low173.68
Previous Monthly High318.46
Previous Monthly Low190.64
Daily Fibonacci 38.2%199.63
Daily Fibonacci 61.8%197.12
Daily Pivot Point S1195.76
Daily Pivot Point S2189.09
Daily Pivot Point S3185.13
Daily Pivot Point R1206.4
Daily Pivot Point R2210.36
Daily Pivot Point R3217.04

ETH/USD daily chart

  • The price is retesting breached pennant structure, supply observed at the psychological $200 mark.

ETH/USD 60-minute chart

  • Price action is being supported to the upside by a near-term ascending trend line. 

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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