Ethereum technical analysis: ETH/USD tight conditions subject to a potential explosive breakout

Ethereum price is trading in the red, down 0.70% the session on Tuesday.
ETH/USD is moving within narrowing trading conditions via the daily chart view.
The upside is capped at $180 and support is being held just below at $170.

Ken Chigbo Independent Analyst

ETH/USD daily chart

A range-block formation can be seen over the last six days of trading for ETH/USD.

ETH/USD 60-minute chart

The price via the 60-minute view is demonstrating a lack of commitment, as it narrows.

Spot rate: 173.12

Relative change: -0.70%

High: 175.62

Low: 172.75

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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