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Ethereum Price Analysis: ETH/USD bull pullback before another shot higher

  • Ethereum price is trading in the green by 1.70% in the session on Thursday. 
  • ETH/USD bulls in the prior session enjoyed their biggest double-digit daily gain since May 2019. 
  • The price was victim to some near-term profit-taking, following the big pushes north recently.
Ethereum Price Analysis: ETH/USD bull pullback before another shot higher
Ken ChigboKen ChigboIndependent Analyst

ETH/USD daily chart

The next major daily support should be noted down at around $240, if the price continues to cool. 

ETH/USD 60-minute chart

An important hourly zone of support should be noted at the range of $255-250. Price action can be observed narrowing within a triangular structure. 

Spot rate:                     221.10  

Relative change:          +2.00%

High:                             274.84

Low:                              255.64

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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