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Ethereum technical analysis: ETH/USD vulnerabilities still largely point to the downside

FX Street

Published date: 6 Dec. 2019 | 15:52

Ethereum price is trading in the green, up % the session on
ETH/USD downside momentum continues with the price running at its fourth consecutive week in the red.
The next major demand zone is seen down at psychological $100 price mark.

ETH/USD weekly chart

Price action continues to extend to the downside, since a weekly breach of a bearish pennant structure.

ETH/USD daily chart

Daily price action is moving within a bearish pennant structure, subject to a potential breakout south.

Spot rate: 147.11

Relative change: -0.80%

High: 148.78

Low: 146.08

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