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Ethereum Price Forecast: ETH/USD bulls must break down $150

  • Ethereum price is trading in the red by 0.00% in the session on Tuesday. 
  • ETH/USD is running at two consecutive sessions in the green, as the bulls attempt a rebound. 
  • Despite the recent bout of buying pressure, a narrow daily range remains. 
Ethereum Price Forecast: ETH/USD bulls must break down $150
Ken ChigboKen ChigboIndependent Analyst

ETH/USD daily chart

Bulls will need to void a bearish flag structure and break above $150, in order to regather buyer confidence. 

ETH/USD 60-chart

Price action has breached a rising wedge structure, increasing vulnerabilities to greater downside. 

Spot rate:                     135.50

Relative change:          -0.90%

High:                             144.04

Low:                              133.09

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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