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Ethereum technical analysis: ETH/USD moving within bearish flag subject to potential breach

  • Ethereum price is trading in the green, up 0.90% the session on Wednesday.
  • ETH/USD price action is moving within a bearish flag structure via the daily.
  • There is much supply heading into the pychological $200 area, capping the bulls. 
Ethereum technical analysis: ETH/USD moving within bearish flag subject to potential breach
Ken ChigboKen ChigboIndependent Analyst

ETH/USD daily chart

Price action is limited to the upside, the bulls continue to have problems with supply heading into the psychological $200 mark. 

ETH/USD 60-minute chart

The price has broken out of a narrowing range-block and is at present retesting. 

Spot rate:                  179.15

Relative change:      -1.50%

High:                         179.07

Low:                          174.26

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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