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  • Ethereum is seen down in the session by some 3.5%, as a further cooling is observed across the market on Friday.
  • ETH/USD has formed a bullish flag pattern via the 60-minute chart view.
  • Price bouncing lower for now, with what can also be viewed as a descending channel formation.
  • There is potential room for a decent breakout to the upside, should momentum be picked back up.  

 

ETH/USD 60-minute chart

 
 

Spot rate:                   113.50

Relative change:       -3.41%

High:                          120.01

Low:                           111.40

 

Trend:                         Bearish

 

Support 1:                   113.00, ascending trend line.

Support 2:                   112.65, lower part of channel.

Support 3:                   108.56, daily pivot point support.  

Resistance 1:              117.65, upper part of channel.

Resistance  2:              122.97, daily pivot point resistance.

Resistance  3:              128.48, daily pivot point resistance.

 

ETH/USD weekly chart

  • ETH/USD battling it out to avoid another weekly loss, after the previous two recorded negative  closes.