Ethereum Technical Analysis: ETH/USD still hope with bullish pennant structure
- Ethereum price on Thursday is trading in the red by just over 1%, as the bears remain in control.
- ETH/USD continues to head south, after completely losing ground on the early month upside momentum.
- There is a glimmer of hope, as the price moves within a bullish pennant pattern structure.

Spot rate: 163.85
Relative change: -1.32%
High: 166.67
Low: 162.25
ETH/USD 60-minute chart
- Near-term price action is moving within somewhat of a bearish pennant/flag structure, which contradicts a bullish pennant eyed via the daily.
ETH/USD daily chart
- Price action via the daily is moving within a bullish pennant pattern formation, as a breakout higher is still eyed.
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.





