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Ethereum Price Analysis: ETH/USD bulls aggressively make advance higher with double-digit jump

Ethereum price is trading in the green by 12.35% in the session on Thursday.
ETH/USD encountered a huge wave of buying after being under pressure on Wednesday.
There is a known buying region down at $150, which supported Ethereum in its spike north.

Ken Chigbo Independent Analyst

ETH/USD daily chart

The bulls forced a hug bounce off the lower acting trend line of a bearish flag pattern.

ETH/USD 60-minute chart

Price action has broken out from a bullish pennant structure via the 60-minute chart view.

Spot rate: 171.62

Relative change: +12.35%

High: 158.81

Low: 149.86

ETH/USD

Overview
Today last price	172.82
Today Daily Change	20.00
Today Daily Change %	13.09
Today daily open	152.82

Trends
Daily SMA20	149.12
Daily SMA50	164.01
Daily SMA100	182.76
Daily SMA200	172.16

Levels
Previous Daily High	161.45
Previous Daily Low	152.14
Previous Weekly High	176.48
Previous Weekly Low	140.8
Previous Monthly High	252.76
Previous Monthly Low	89.65
Daily Fibonacci 38.2%	155.69
Daily Fibonacci 61.8%	157.89
Daily Pivot Point S1	149.49
Daily Pivot Point S2	146.16
Daily Pivot Point S3	140.18
Daily Pivot Point R1	158.8
Daily Pivot Point R2	164.77
Daily Pivot Point R3	168.1

Author

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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ETH/USD daily chart

ETH/USD 60-minute chart

ETH/USD

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