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  • Ethereum is holding minor gains in the latter stages of trading on Thursday of just 0.10%.
  • ETH/USD bulls have the opportunity to capitalize on a bullish flag structure.

 

Ethereum price is trading very marginally in the green late in the session on Thursday, up with gains of just 0.10%. Bulls are attempting to firm their recent bounce towards recovery after the selling of April came to a halt on 26th.

ETH/USD is moving within a bullish flag pattern formation, with the price recently edging out from the structure. Bulls have the opportunity to run further north if playing out to the textbook, eyes on the psychological $200 mark.

Looking via the confluence detector, in terms of barriers to the upside; $167.24, weekly 61.8% Fibonacci, $168.92, 38.5% Fibonacci, $173.96, weekly pivot point resistance. To the downside, $165.57, daily 61.8% Fibonacci, $163.89, daily 38.2% Fibonacci.

ETH/USD daily confluence detector