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Ethereum technical analysis: ETH/USD back to moving within a bearish pennant

FX Street

Published date: 7 Nov. 2019 | 15:27

Ethereum price is trading in the red, down 2.40% the session on Thursday.
ETH/USD is back to moving within a bearish pennant structure, subject to further potential downside pressure.
The bears failed to break down the strong barrier heading into $200.

ETH/USD daily chart

Following a fakeout period between 23-24 October, ETH/USD is back within the confinements of a bearish pennant.

ETH/USD 60-minute chart

.Near-term price action is moving within a descending channel structure

Spot rate: 189.45

Relative change: -2.40%

High: 192.31

Low: 184.99

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