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Ethereum technical analysis: ETH/USD bearish flag structure breakout allows sellers to capitalize

Published date: 16 Dec. 2019 | 17:22

Ethereum price is trading in the red, down 0.15% the session on Monday.
ETH/USD has fallen over $50 within the last six weeks of trading.
The price runs the risk of the psychological $100 mark being tested to the downside.

ETH/USD weekly chart

Price action is running towards its sixth consecutive week in the red, as the bears maintain full control in current trend.

ETH/USD daily chart

Near-term price action is subject to further downside risks, after breaching bearish flag.

Spot rate: 140.63

Relative change: -1.10%

High: 142.53

Low: 139.86

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