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Ethereum Technical Analysis: ETH/USD is at danger from another potential bear attack, price remains in supply zone and ascending channel subject to a break

Ethereum has been nursing small losses again on Thursday, down 0.25%, with prices seen mixed across the cryptocurrency market.
ETH/USD price is flirting within a touted selling zone and testing the lower support of an ascending channel.
Firm supply zone tracks from $608-630, support at $600 is key for Ethereum.

Ken Chigbo Independent Analyst

ETH/USD 60-minute chart

Spot rate: 605.95

Relative change: -0.25%

High: 617.16

Low: 601.77

Trend: Neutral/Bearish

Support 1: 605.50, 50MA & 100 MA.

Support 2: 600.00, lower trend line support of ascending channel.

Support 3: 591.41 6th June low.

Resistance 1: 608.00, Entrance of supply zone.

Resistance 2: 617.16, today’s (Thursday) high.

Resistance 3: 629.11, 3rd June high.

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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