Ken Chigbo
Independent Analyst
- Ethereum price is trading in the red on Friday down some 3% in the second part of the day.
- ETH/USD a long running ascending trend line can be supporting the price for now via the daily view.
- Near-term price rallies appear vulnerable to downside, given bulls capped by supply at $230.
Spot rate: 218.22
Relative change: -3.15%
High: 226.52
Low: 213.24
ETH/USD 60-minute chart
- Near-term bearish flag structure subject to a potential breakout south, via the 60-minute.
ETH/USD daily chart
- Critical trend line of support has been in play since March, with the price subject to retesting this.
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