Ethereum Price Analysis: ETH/USD critical 2019 trend line retest in focus

  • Ethereum price is trading in the green by 1.70% in the session on Friday. 
  • ETH/USD has been rising for four consecutive sessions, on a solid run, no signs of a slowdown. 
  • Eyes will be on a retest of a breached ascending trend line, which acted strongly as support in 2019. 

ETH/USD weekly chart

The next major area of interest for the bulls will likely be the round psychological $300 mark, which is very much within reaching distance and in proximity to a breached trend line retest. 

ETH/USD 60-minute chart

Price action has extended to the upside after breaking out of a bullish pennant structure. 

Spot rate:                     278.48 

Relative change:          +3.70%

High:                             278.70

Low:                             260.12  

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