Ethereum technical analysis: ETH/USD breakout and retest of bearish flag leaves price vulnerable to greater downside

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  • Ethereum price is trading in the red, down 3.05% the session on Friday.
  • ETH/USD has broken out and retested a bearish flag structure, leaving the door open to greater downside momentum. 
  • Resistance is observed via the $180 price territory, which was the lower part of the recent breached range. 

 

ETH/USD daily chart

The price is vulnerable to further downside momentum, following the bear flag breach. 

 

ETH/USD 60-minute chart

Price action is narrowing within a range-block formation, subject to a further potential continued move south. 

 

Spot rate:                  172.00

Relative change:      -3.05%

High:                         177.61

Low:                          168.35

 

 

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