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

  • Ethereum price is trading in the green, up 2.70% the session on Monday.
  • ETH/USD price action is largely narrowing, which has been in the case for going on six weeks now.
  • A strong barrier of resistance is observed at the psychological $200 mark.
Ethereum technical analysis: ETH/USD has an opportunity for greater heights
Ken ChigboKen ChigboIndependent Analyst

ETH/USD weekly chart

The price via the weekly chart view is moving within a narrowing pennant structure. 

ETH/USD daily chart

Price action has tightened greatly over the latest five sessions, ahead of a further committed trend.

Spot rate:                  186.67

Relative change:      +2.70%

High:                         187.24

Low:                          180.65

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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