- Ethereum price on Friday was once again under pressure down 3.5%, the Thursday relief was very much short lived across the market.
- ETH/USD price action has formed a bearish flag pattern, as seen on the 60-minute chart.
ETH/USD 60-minute chart
Spot rate: 221.57
Relative change: -3.57%
High: 234.56
Low: 213.16
Trend: Bearish
Support 1: 217.13, bottom of bull flag.
Support 2: 213.13, session (Friday) low.
Support 3: 200.00, key psychological level.
Resistance 1: 232.15, upper part of bear flag.
Resistance 2: 235.85, 50MA.
Resistance 3: 245.60, consolidation area before further drop on 5 September.
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