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  • Ethereum price is trading in the red by 1.70% in the session on Friday. 
  • ETH/USD price action is very much consolidating following a double top being hit at $288. 
  • The bears are trying to regather momentum, running at two sessions in the red. 

 

ETH/USD weekly chart

The price is stuck within a key range, $290-240, heading for a potentially negative weekly close, which if being the case could be a signal of a change in trend. 

ETH/USD daily chart

The price is narrowing, buying momentum would likely be seen upon a breakout to the upside of the top at $288, to the downside, bearish momentum would likely be seen upon a breakout of the double top formation neckline at $240-38 region. 

 

Spot rate:                     265.83

Relative change:          +3.15%

High:                             266.76

Low:                              254.30

 

 

Expert score

5

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