Ethereum Technical Analysis: ETH/USD the key to a $200 return is a breakdown of $160-170
- Ethereum price on Friday in the latter part of the session, holding decent gains of some 4.60%.
- ETH/USD bulls are still attempting to breakdown the $160-170 range, the week high area.
- Should the bulls managed to break this area down, then eyes will be set on the $200 mark.
Spot rate: 165.46
Relative change: +4.60%
High: 169.15
Low: 156.83
ETH/USD 60-minute chart
- ETH/USD is moving within a rising wedge pattern formation, subject to potential breakout south.
ETH/USD daily chart
- Price action is struggling to clear the supply running from $160-170, the key to a $200 return.
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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