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Ethereum technical analysis: ETH/USD bearish pennant vulnerable to downside risks

Ethereum price on Tuesday is trading in negative territory by 0.50%.
ETH/USD price action is narrowing extremely within a bearish pennant structure.
The range to the downside is seen at $185, to the upside $190; lower highs are being observed and higher lows.

Ken Chigbo Independent Analyst

Spot rate: 187.60

Relative change: -0.50%

High: 189.04

Low: 184.62

ETH/USD

Overview
Today last price	187.58
Today Daily Change	-0.89
Today Daily Change %	-0.47
Today daily open	188.47

Trends
Daily SMA20	200.94
Daily SMA50	221.37
Daily SMA100	246.33
Daily SMA200	199.55

Levels
Previous Daily High	194.21
Previous Daily Low	185.8
Previous Weekly High	203.69
Previous Weekly Low	180.01
Previous Monthly High	318.46
Previous Monthly Low	190.64
Daily Fibonacci 38.2%	191
Daily Fibonacci 61.8%	189.01
Daily Pivot Point S1	184.78
Daily Pivot Point S2	181.09
Daily Pivot Point S3	176.37
Daily Pivot Point R1	193.18
Daily Pivot Point R2	197.9
Daily Pivot Point R3	201.59

ETH/USD daily chart

The price is moving within a narrowing pennant formation via the daily.

ETH/USD 60-minute chart

Price action via the 60-minute chart view is producing lower highs and higher lows, subject to a breakout of the range.

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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ETH/USD

ETH/USD daily chart

ETH/USD 60-minute chart

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