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Ethereum Price Analysis: ETH/USD bulls will need a big push to prevent double top formation

FX Street

Updated: 30 Jan. 2020 | 16:47

Ethereum price is trading in the green by 1.80% in the session on Thursday.
ETH/USD price action is flirting with the upper acting trend line of a bullish channel structure.
A double top formation can be observed via the daily chart view.

ETH/USD daily chart

Price action is moving within an ascending channel structure via the daily chart view.

ETH/USD 60-minute chart

A near-term bearish flag structure can be observed via the 60-minute chart view.

Spot rate: 176.60

Relative change: +1.80%

High: 177.18

Low: 170.60

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