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Ethereum technical analysis: ETH/USD vulnerable to bear attack

  • Ethereum price is trading in the green, up 1.60% the session on Wednesday.
  • ETH/USD price action is moving within a bearish pennant structure via the daily. 
  • ETH/USD is at risk of falling back down to the psychological $100 price mark. 
Ethereum technical analysis: ETH/USD vulnerable to bear attack
Ken ChigboKen ChigboIndependent Analyst

ETH/USD 60-minute chart

Price action smashed out to the upside from a descending channels structure, inviting a fresh wave of buying pressure. 

ETH/USD daily chart

Critical support is eyed at $145, the lower acting trend line of the noted pennant pattern. 

Spot rate:                 149.95

Relative change:      +1.60%

High:                         153.15

Low:                           143.51

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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