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Ethereum technical analysis: ETH/USD the bulls must break back above the pychological $200

  • Ethereum price on Friday is trading in the green, up some 2.10%. 
  • ETH/USD bulls are attempting to reclaim the big $200 mark following breach.
  • A retest of the breached daily pennant structure, which the bears forced a way out of last week. 
Ethereum technical analysis: ETH/USD the bulls must break back above the pychological $200
Ken ChigboKen ChigboIndependent Analyst

Spot rate:                 194.60

Relative change:      +2.10%

High:                         194.70

Low:                          188.53

ETH/USD daily chart

  • Price action heading for another retest of the big $200 mark, failure to reclaim could be punishing. 

ETH/USD 60-minute chart

  • The bulls managed to break above and retest a descending trend line. 

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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