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Ethereum Technical Analysis: ETH/USD rising channel technical set up

  • Ethereum price was seen in the green on Wednesday, trading up some 0.55%.
  • ETH/USD is moving within an ascending channel formation, subject to a potential break lower. 
  • Chunky buying was seen from the back-end of Tuesday at the big $200 area. 

ETH/USD 60-minute chart 


 

Spot rate:                  204.63

Relative change:      +0.55%

High:                         205.30

Low:                          203.92

Trend:                       Neutral

Support 1:                 204.40, ascending channel.

Support 2:                 202.25, support on 60-minute.

Support 3:                 200.00, chunky demand zone. 

Resistance 1:            205.20, resistance on 60-minute. 

Resistance 2:            206.12, upper part of channel.

Resistance 3:            207.00, supply zone. 

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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