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Ethereum technical analysis: ETH/USD must break down $200

  • Ethereum price is trading in the green, up 2.15% the session on Tuesday.
  • ETH/USD has offered little in terms of volatility over the last 11 sessions, as the price consolidates. 
  • A strong barrier of resistance is observed at the psychological $200 mark, preventing further upside pressure. 
Ethereum technical analysis: ETH/USD must break down $200
Ken ChigboKen ChigboIndependent Analyst

ETH/USD weekly chart

A range-block formation is observed via the weekly chart view, a lack of committed trend for now. 

ETH/USD daily chart

Price action is narrowing within a triangular structure via the daily chart view, subject to a breakout. 

Spot rate:                  190.45

Relative change:      +2.15%

High:                         191.36

Low:                          182.47

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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