Ethereum Price Analysis: ETH/USD will need to break down barrier at $135 for recovery case

Ethereum price is trading in the green by 8.10% in the session on Thursday.
ETH/USD is running towards its third session in the green, despite price narrowing.
There is a chunky barrier of resistance at the range of $135-140 capping upside.

Ken Chigbo Independent Analyst

ETH/USD daily chart

Near-term price action is moving within a rising channel structure, at risk of potential breakout south.

ETH/USD 60-minute chart

The price has smashed out of a bearish flag to the downside, inviting further pressure south. Eyes on a possible retest.

Spot rate: 126.75

Relative change: -0.10%

High: 129.75

Low: 115.76

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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