Ethereum Price Analysis: ETH/USD bear flag remains a big risk
|- Ethereum price is trading in the green by 0.40% in the session on Tuesday.
- ETH/USD is running at two consecutive sessions in the red, after $190 rejection.
- Price action remains within the confinements of a bearish flag structure.
ETH/USD daily chart
The price has been grinding higher since bouncing back from harsh selling in March, forming a flag pattern from 13 March. A breakout south would invite a fresh wave of downside pressure.
ETH/USD 60-minute chart
A near-term flag is observed via the 60-minute chart, of which the bears have forced a breakout to the downside.
Spot rate: 171.32
Relative change: +0.40%
High: 174.84
Low: 168.41
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.