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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.

Ken Chigbo Independent Analyst

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

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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