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Ethereum technical analysis: Ethereum technical analysis: ETH/USD big barrier from $180-200 is a problem

  • Ethereum price is trading in the red, up 1.50% the session on Tuesday.
  • ETH/USD price action is largely capped to the upside by daily supply zone, $180-200. 
  • The rally of Monday is being sold by the bears, upside proving to be unsustainable across the market. 
Ethereum technical analysis: Ethereum technical analysis: ETH/USD big barrier from $180-200 is a problem
Ken ChigboKen ChigboIndependent Analyst

ETH/USD daily chart

Price action is limited to the upside, the bulls continue to have problems with supply heading into the psychological $200 mark. 

ETH/USD 60-minute chart

A bullish flag structure can be observed via the 60-minute chart view, subject to a potential breakout higher. 

Spot rate:                  179.15

Relative change:      -1.50%

High:                         186.06

Low:                          176.96

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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