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  • Ethereum price on Monday was seen nursing minor losses of some 1.3%, cooling just marginally after the chunky jump on Sunday.
  • ETH/USD formed a bullish Doji on Sunday, as seen with several of its peers across the board.
  • Price is moving within a descending channel pattern, subject to a breakout from the bulls.  

 

 

ETH/USD daily chart  

 

 
 

Spot rate:                   115.52

Relative change:       -1.30%

High:                          119.46

Low:                           112.83

 

Trend:                         Bearish/Neutral

 

Support 1:                   104.95, lower part part of recent range block.

Support 2:                   93.24, daily pivot point support.

Support 3:                    85.50,  daily pivot point support.

Resistance 1:              119.25, upper part of channel.  

Resistance  2:              124.40,  daily pivot point resistance.

Resistance  3:              132.14,  daily pivot point resistance.

 

ETH/USD 60-minute chart

  • The clarity of the descending channel formation can be seen via the 60-minute chart view, subject to a potential breakout to the upside.