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Ethereum Price Analysis: ETH/USD has a big bull opportunity if $185-190 is broken down

  • Ethereum price is trading in the red by 0.55% in the session on Monday. 
  • ETH/USD moving within consolidation mode, with market commitment nearing.
  • Heavy supply should be noted at the range of $180-190, capping upside. 

ETH/USD weekly chart

The market bulls are enjoying a three consecutive week run to the upside. However, weekly resistance remains tough at $190. 

ETH/USD daily chart

Price action has been somewhat narrowing over the last two sessions, after a strong bull flag breakout. 

Spot rate:                      153.38

Relative change:          -0.55%

High:                             186.67

Low:                              173.35

 

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