Ethereum Price Analysis: ETH/USD another drop lower is still possible

• Ethereum price is trading in the red by 3.50% in the session on Tuesday. 
• ETH/USD continues to move within a narrowing structure, at risk of an explosive breakout. 
• The price has been stuck within the noted confinements since 27 February. 

ETH/USD daily chart

The current daily range high is seen up at $237 down to a low of $213, demonstrating its narrow nature, with a bearish pennant eyed. 

ETH/USD 60-minute chart

Price action via the 60-minute chart view is moving within a potential bullish flag structure. 

Spot rate:                     224.40

Relative change:          -3.50%

High:                             223.00

Low:                              222.77