Ethereum technical analysis: ETH/USD supply at $280 is too strong for bulls


  • Ethereum price on Monday is trading in positive territory with minor gains of over 1%.
  • ETH/USD bulls have once again been capped by chunky supply seen within the $280 region. 
  • Price action via the daily chart view continues to move within a bullish flag structure. 

 

Spot rate:                 271.41

Relative change:      +1.35%

High:                         275.81

Low:                         267.68

 

ETH/USD 60-minute chart

  • A vital ascending trend line can be observed via the 60-minute chart view, providing needed support to the bulls. 

 

ETH/USD daily chart

  • Price action via the daily chart view is moving within a bullish flag structure formation.

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