Ken Chigbo
Independent Analyst
- Ethereum price is trading in the red, up 2.05% the session on Monday
- ETH/USD downside momentum continues with the price running at its fourth consecutive week in the red.
- There is a lack of signage in a change in trend, as the price trades around the lowest levels in eight months.
ETH/USD weekly chart
The price is currently trading within a critical weekly zone, $160-130. Should this be breached a fast move down to $100 could come into play.
ETH/USD daily chart
Daily price action is moving within a bearish pennant structure, subject to a potential breakout south.
Spot rate: 148.15
Relative change: -0.80%
High: 151.55
Low: 147.49
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