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Ethereum technical analysis: ETH/USD heading towards big supporting trend line test

  • Ethereum is trading in the red, nursing losses of some 0.25% in the second part of Monday. 
  • ETH/USD price action is heading towards a big test of a daily ascending trend line of support. 
  • A failure of the above holding could invite a chunky bout of selling pressure. 
Ethereum technical analysis: ETH/USD heading towards big supporting trend line test
Ken ChigboKen ChigboIndependent Analyst

Spot rate:                 423.98

Relative change:      +3.10%

High:                        301.69

Low:                         285.04

ETH/USD 60-minute chart

  • A critical near-term zone can be seen via the 60-minute chart view, keeping prices propped up. 

ETH/USD daily chart

  • Bears are pressing for a big test of a long-running ascending trend line of support. 

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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