- Ethereum price is trading in the red by 1.70% in the session on Thursday.
- ETH/USD price action has hit a double top area at $285 seen on 14 and 18 February.
- The bears are trying to regather momentum, running at two sessions in the red.
ETH/USD daily chart
The neckline support area of the noted double top formation is tracking around the $240 mark.
ETH/USD 60-minute chart
Price action is breaking out to the downside from a bearish pennant structure, via the 60-minute chart view.
Spot rate: 279.84
Relative change: -1.70%
High: 264.05
Low: 253.85
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