Ken Chigbo
Independent Analyst
- Ethereum price in the second half of Monday is nursing some steep losses of over 4%.
- ETH/USD is protected by a decent near-term buying area around $250 price territory, a breach could expose $200 to the downside.
- To the upside, supply can be observed around $270, where bulls appear to be capped.
Spot rate: 258.76
Relative change: -3.10%
High: 270.01
Low: 254.33
ETH/USD 15-minute chart
- A descending trend line is capping price action, forcing narrowing trading. Near-term support is eyed at $250.
ETH/USD daily chart
- Price action via the daily chart view is moving within a rising wedge structure, subject to a potential breakout south.
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