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  • Ethereum price is trading in the red by 1.70% in the session on Tuesday. 
  • ETH/USD since 13 February has been narrowing, forming a pennant via the daily chart view.
  • An important area of support should be noted via the $250-40 price range, propping up ETH.

ETH/USD daily chart

A breakout is eyed, the bulls do have an opportunity to breakout higher should they capitalize on the noted structure. 

ETH/USD 60-minute chart

The lower tracking trend line can clearly be observed as acting support for the price, as part of the noted pennant. 

 

Spot rate:                     259.20

Relative change:          -2.50%

High:                             266.19

Low:                              255.58