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Ethereum Technical Analysis: ETH/USD runs into a known area of supply ahead of $150

FX Street
Published date:
  • Ethereum price is trading in the red by 2.30% in the session on Tuesday. 
  • ETH/USD bull momentum hits a roadblock, running into a supply zone ahead of $150. 
  • A retest of the psychological $140 price barrier is at present in play. 

 

ETH/USD daily chart

A chunky area of supply should be noted at a former range area for ETH/USD, which formed between 23 November – 15 December before breakout out. It is now acting as resistance, $140-155 range. 

ETH/USD 60-minute chart

Price action heading towards a retest of a critical near-term ascending trend line of support.

 

Spot rate:                     141.19

Relative change:          -2.50%

High:                            145.13

Low:                             140.25

 

 

 

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