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  • Ethereum price is trading in the green, up 4.00% the session on Friday.
  • ETH/USD has managed to receive support within a big demand area at $160 territory.  
  • Price action is attempting to break out from a descending wedge structure.  


ETH/USD daily chart

The price had been falling within a steep downward trend between 10-24 October, which has seen the formation of a descending wedge/flag structure.  

ETH/USD 60-minute chart

Near-term supply can be seen heading into the $170 price region, which is a barrier for the bulls.  


Spot rate:                   167.35

Relative change:       +4.00%

High:                          168.60

Low:                           160.78