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Ethereum technical analysis: ETH/USD next major area of safety at $150 mark

  • Ethereum price is trading in negative territory, holding minor gains of some 0.40 on Friday.
  • ETH/USD smashed out from breached daily pennant structure, making way for further downside. 
  • The price is heading down to the a big area of potential support at $150.
  • Ethereum is subject to giving back of its 2019 recovery
Ethereum technical analysis: ETH/USD next major area of safety at $150 mark
Ken ChigboKen ChigboIndependent Analyst

Spot rate:                 168.50

Relative change:      +0.40%

High:                         170.49

Low:                          165.69

ETH/USD daily chart

  • The price has been left exposed following the breakout from a narrowing daily range and pennant structure.

ETH/USD 60-minute chart

  • Price action is stuck in narrowing range, high of $170 to a low $165 via 60-minute.

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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