Ken Chigbo
Independent Analyst
- 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.
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
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