Ethereum technical analysis: ETH/USD has an opportunity for greater heights

Ethereum price is trading in the red, up 0.40% the session on Tuesday.
ETH/USD bulls must break down chunky daily resistance at $195 for greater upside momentum.
Price action has been moving within consolidation mode since the back end of September.

Ken Chigbo Independent Analyst

ETH/USD daily chart

The bulls have so far been hit within rejection at the major barrier is eyed at $195, tracking at the potential neckline of a daily double bottom.

ETH/USD 60-minute chart

Price action is moving a narrowing range-block structure, subject to a breakout.

Spot rate: 182.62

Relative change: -0.50%

High: 185.56

Low: 178.10

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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