Ethereum Price Analysis: ETH/USD continues to narrow within a bullish pennant
|- Ethereum price is trading in the red by 1.70% in the session on Tuesday.
- ETH/USD since 13 February has been narrowing, forming a pennant via the daily chart view.
- An important area of support should be noted via the $250-40 price range, propping up ETH.
ETH/USD daily chart
A breakout is eyed, the bulls do have an opportunity to breakout higher should they capitalize on the noted structure.
ETH/USD 60-minute chart
The lower tracking trend line can clearly be observed as acting support for the price, as part of the noted pennant.
Spot rate: 259.20
Relative change: -2.50%
High: 266.19
Low: 255.58
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