RATE Group | ETH/USD another wave of downside pressure is still possible
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ETH/USD another wave of downside pressure is still possible

03 Jan ETH/USD another wave of downside pressure is still possible

Posted at 15:19h in Ethereum News by

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  • Ethereum price is trading in the green by some 3.90% in the session on Friday. 
  • ETH/USD has caught a near-term upside bid, sustainability, however, does still remain questionable.
  • Price action is still stuck within a bearish pennant structure via the daily view.  

 

ETH/USD daily chart

A bearish pennant/flag structure can be viewed via the daily chart, subject to further potential moves south. 

ETH/USD 60-minute chart

Price action via the 60-minute view smashed out from a descending channel structure, however price action is now consolidating above. 

 

Spot rate:                     131.90

Relative change:          +3.90%

High:                            133.92

Low:                             125.81

 

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