Ethereum technical analysis: ETH/USD subject to further flights north

Ethereum price in the second part of Thursday is trading firmly in the green, up with decent gains of 5.5%.
ETH/USD price has been rallying for the past five consecutive weeks.
Near-term price action is moving within a bullish pennant structure, subject to a breakout.

Ken Chigbo Independent Analyst

Spot rate: 284.05

Relative change: +5.55%

High: 288.06

Low: 267.49

ETH/USD

Overview
Today last price	284.14
Today Daily Change	14.43
Today Daily Change %	5.35
Today daily open	269.71

Trends
Daily SMA20	239.85
Daily SMA50	195.96
Daily SMA100	169.38
Daily SMA200	148.66

Levels
Previous Daily High	274.39
Previous Daily Low	260.22
Previous Weekly High	264.65
Previous Weekly Low	231.05
Previous Monthly High	187.51
Previous Monthly Low	140.14
Daily Fibonacci 38.2%	265.63
Daily Fibonacci 61.8%	268.98
Daily Pivot Point S1	261.82
Daily Pivot Point S2	253.93
Daily Pivot Point S3	247.65
Daily Pivot Point R1	276
Daily Pivot Point R2	282.28
Daily Pivot Point R3	290.17

ETH/USD 30-minute chart

Price action is moving within a bullish pennant pattern formation, subject to a breakout, via the 30-minute view.

ETH/USD daily chart

The bulls are in firm control, after breaking out from a daily pennant pattern structure.

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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