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Ethereum Price Analysis: ETH/USD supply remains very heavy from $140-150

FX Street
Published date:
  • Ethereum price is trading in the red by 3.30% in the session on Wednesday. 
  • ETH/USD is losing ground with price still in consolidation mode, with range breakout nearing.
  • Bearish flag at risk of a breach to the downside as the price narrows. 

 

ETH/USD daily chart

The price has been moving within a bearish flag structure since 13 March, which would invite another bout of selling pressure if broken. 

ETH/USD 60-chart

Price action is breaking out to the downside from a narrowing range block formation. 

 

Spot rate:                     134.60

Relative change:          -3.30%

High:                             142.55

Low:                              132.82

 

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