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  • Ethereum price on Friday has bounced after a big beating on Thursday, which was seen across the market.  
  • ETH/USD bulls failed to capitalize on a bullish pennant pattern structure, as the bears forced a breach of the acting support.  
  • Eyes on a potential retest of the breached pennant formation, ahead of further moves south.  

 

Spot rate:                 154.40

Relative change:      +3.03%

High:                        158.11

Low:                         149.52

ETH/USD 60-minute chart

  • Bearish pennant pattern formation structure eyed via the 60-minute chart view, subject to breakout.

ETH/USD daily chart

  • Bullish pennant pattern formation fails to be capitalized on, as acting support gives way.