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Ethereum Technical Analysis: ETH/USD bulls breakout from bullish flag pattern

  • Ethereum price on Tuesday into the second part of the session, holding gains of some 0.6%,
  • ETH/USD price behavior suggests another extended move to the upside is potentially around corner.  

 

ETH/USD 15-minute chart
 

 

Spot rate:                   96.13

Relative change:       +0.61%

High:                          96.70

Low:                           92.94

 

 

Trend:                         Bullish

 

Resistance 1:              97.50-98.00, near-term supply area.

Resistance  2:             101.21, daily pivot point resistance.

Resistance  3:             106.95, daily pivot point resistance.

Support 1:                   87.41, daily pivot point resistance.

Support 2:                   79.36, daily pivot point support.

Support 3:                   73.61, daily pivot point support.

 

ETH/USD 60-minute chart

  • Bullish momentum is eyed, with price set to retest the near-term barrier of supply, $97.50-98.00.

ETH/USD 4-hour chart

  • A breakout of the supply area market on the chart, should see a renewed wave of buying pressure. Sending the price back well into the $100 area.    

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