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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. 
Ethereum technical analysis: ETH/USD bearish pennant vulnerable to downside risks
Ken ChigboKen ChigboIndependent Analyst

Spot rate:                  187.60

Relative change:      -0.50%

High:                         189.04

Low:                          184.62

ETH/USD

Overview
Today last price187.58
Today Daily Change-0.89
Today Daily Change %-0.47
Today daily open188.47
 
Trends
Daily SMA20200.94
Daily SMA50221.37
Daily SMA100246.33
Daily SMA200199.55
Levels
Previous Daily High194.21
Previous Daily Low185.8
Previous Weekly High203.69
Previous Weekly Low180.01
Previous Monthly High318.46
Previous Monthly Low190.64
Daily Fibonacci 38.2%191
Daily Fibonacci 61.8%189.01
Daily Pivot Point S1184.78
Daily Pivot Point S2181.09
Daily Pivot Point S3176.37
Daily Pivot Point R1193.18
Daily Pivot Point R2197.9
Daily Pivot Point R3201.59

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

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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