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Ethereum Price Forecast: ETH/USD at risk to another deeper fall

  • Ethereum price is trading in the red by 3.30% in the session on Thursday. 
  • ETH/USD continues to move within a very tight range, breakout looming.
  • The price has failed to find any direction since the stabilization from selling some two weeks ago. 
Ethereum Price Forecast: ETH/USD at risk to another deeper fall
Ken ChigboKen ChigboIndependent Analyst

ETH/USD daily chart

Further selling pressure can still not be ruled out, as the price is moving within a  bearish flag structure, seen since 13 March.

ETH/USD 60-chart

Price action is breaking out to the downside from a narrowing range block formation. 

Spot rate:                     134.37

Relative change:          -1.40%

High:                             138.95

Low:                              133.47

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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