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Ethereum Technical Analysis: ETH/USD within descending wedge pattern, with $450 support under threat

Ethereum price seen down over 2% on Friday, as bear run continues to hold dominance.
ETH/USD moving within descending wedge pattern, near-term support at $450 under threat.

Ken Chigbo Independent Analyst

ETH/USD 60-minute chart

Spot rate: 458.99

Relative change: -2.06%

High: 469.30

Low: 452.03

Trend: Bearish

Support 1: 452.00 demand zone entrance

Support 2: 448.96,lower part of wedge.

Support 3: 445.95, support on 60-minute chart).

Resistance 1: 464.36, upper part of wedge.

Resistance 2: 472.32, 50MA.

Resistance 3: 478.60, 100MA.

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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