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Ethereum Technical Analysis: ETH/USD bear flag eyed

  • Ethereum value on Friday was down round 2.5% within the second half of the session. 
  • ETH/USD bears are flirting vigorously with a significant near-term demand space. Decrease finish of this assist seen at $165.
  • Value motion has shaped a bearish flag sample, as eyed on the every day view. 
  • Ethereum earlier within the week, misplaced its 2nd place of largest cryptocurrency by market cap to Ripple’s XRP.

 

ETH/USD every day chart 

 

 
 

Spot price:                  177.85

Relative change:      -2.51%

Excessive:                         181.82

Low:                          174.92

 

Development:                       Bearish

 

Help 1:                 171.52, every day pivot level assist.   

Help 2:                 161.46, every day pivot level assist.

Help three:                 154.38, every day pivot level assist. 

Resistance 1:            188.67, every day pivot level resistance.

Resistance 2:            195.75, every day pivot level resistance.

Resistance three:            205.81, every day pivot level resistance.

 

ETH/USD 60-minute chart

  • A bearish pennant formation has been eyed by way of the 60-miunte chart view, topic to a possible prolonged breakout to the draw back.

 

 

About Tom Greenly

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