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Ethereum technical analysis: ETH/USD exposed to a potential vicious attack from bears

FX Street
Published date:
  • Ethereum price on Tuesday is nursing losses of some 1.7% in the latter stages of trading.  
  • ETH/USD via the daily time frame has smashed out from a rising wedge formation.  
  • A decent demand zone can be observed from $240 down to $215, which could prove to be critical.  

Spot rate:                245.54

Relative change:    -1.70%

High:                       251.21

Low:                        237.04

 

ETH/USD 4-hour chart

  •  ETH/USD is sitting just above a well-needed area of demand, supporting the price at present, after a wedge breakout seen via the daily.

ETH/USD daily chart

  • Price action via the daily time frame has extended to the downside from a rising wedge formation.  

FX Street

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