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Ethereum technical analysis: ETH/USD heading for another retest of supporting daily trend line

Ethereum price is trading in the red on Friday down some 3% in the second part of the day.
ETH/USD a long running ascending trend line can be supporting the price for now via the daily view.
Near-term price rallies appear vulnerable to downside, given bulls capped by supply at $230.

Ken Chigbo Independent Analyst

Spot rate: 218.22

Relative change: -3.15%

High: 226.52

Low: 213.24

ETH/USD

Overview
Today last price	217.69
Today Daily Change	-8.40
Today Daily Change %	-3.72
Today daily open	226.09

Trends
Daily SMA20	273.68
Daily SMA50	272.21
Daily SMA100	234.08
Daily SMA200	183.83

Levels
Previous Daily High	229.67
Previous Daily Low	206.08
Previous Weekly High	318.46
Previous Weekly Low	262
Previous Monthly High	363.54
Previous Monthly Low	226.48
Daily Fibonacci 38.2%	220.66
Daily Fibonacci 61.8%	215.09
Daily Pivot Point S1	211.56
Daily Pivot Point S2	197.02
Daily Pivot Point S3	187.96
Daily Pivot Point R1	235.15
Daily Pivot Point R2	244.21
Daily Pivot Point R3	258.74

ETH/USD 60-minute chart

Near-term bearish flag structure subject to a potential breakout south, via the 60-minute.

ETH/USD daily chart

Critical trend line of support has been in play since March, with the price subject to retesting this.

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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ETH/USD

ETH/USD 60-minute chart

ETH/USD daily chart

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