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Ethereum Technical Analysis: ETH/USD gearing up at the launch station

Ethereum price in the session on Wednesday trading up in positive territory by over 8%.
ETH/USD bulls must break down $120 for great upside in the near-term.
Should a breach of $121 firmly to the upside be seen, then $130 and $150 would be the next likely barriers to be attacked.

Ken Chigbo Independent Analyst

ETH/USD 4-hour chart

Spot rate: 119.39

Relative change: +8.02%

High: 121.25

Low: 110.32

Trend: Bullish

Resistance 1: 121.50, 4-hour resistance.

Resistance 2: 127.48, daily pivot point resistance.

Resistance 3: 130.00, 4th November high.

Support 1: 103.07, daily pivot point support.

Support 2: 95.88, daily pivot point support.

Support 3: 90.87, daily pivot point support.

Author

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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