Ethereum Price Analysis: ETH/USD $160 daily support in trouble

FX Street

Updated: 23 Jan. 2020 | 16:32

Ethereum price is trading in the red by -2.90% in the session on Thursday.
The last nine-day price range $175 down to a low of $160 is at risk of a breach.
Last week’s rally is at risk of being completely reversed by the bears.

ETH/USD daily chart

The next major support to the downside should the $160 mark be breached, is seen down at $150.

ETH/USD 60-minute chart

Bears are back in control as price breaks out of bearish flag structure via the 60-minute.

Spot rate: 162.80

Relative change: -2.95%

High: 167.74

Low: 160.67

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