Ethereum technical analysis: ETH/USD moving within bearish flag subject to potential breach
|- Ethereum price is trading in the green, up 0.90% the session on Wednesday.
- ETH/USD price action is moving within a bearish flag structure via the daily.
- There is much supply heading into the pychological $200 area, capping the bulls.
ETH/USD daily chart
Price action is limited to the upside, the bulls continue to have problems with supply heading into the psychological $200 mark.
ETH/USD 60-minute chart
The price has broken out of a narrowing range-block and is at present retesting.
Spot rate: 179.15
Relative change: -1.50%
High: 179.07
Low: 174.26
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.