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Ethereum Price Prediction: ETH/USD upside potential is very limited at present

  • Ethereum is nursing losses within the second half of buying and selling on Thursday of round three%.
  • ETH/USD bulls nonetheless have the chance to capitalize on a bullish flag construction.

Ethereum worth on Thursday is buying and selling within the pink, nursing losses of simply over 2% within the session. Bulls nonetheless trying to regather upside momentum that was seen in the direction of the again finish of April, after a uneven month of buying and selling.

ETH/USD was transferring inside a bullish flag sample formation, the worth broke out of this late April. The bulls since have failed to essentially regather the upside momentum, nevertheless, are nonetheless buying and selling above the construction, retesting the higher a part of this.

Trying through the confluence detector, when it comes to obstacles to the upside; $170.30, month-to-month 38.2% Fibonacci, $172.08, day by day 23.6% Fibonacci. $175.64 day by day and weekly pivot level resistance. To the draw back, $164.96, weekly 38.2% Fibonacci, $159.62, month-to-month 61.eight% Fibonacci.

ETH/USD day by day confluence detector

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