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  • Ethereum price is trading in the red, down 6.70% the session on Wednesday.
  • ETH/USD has smashed out from the narrowing trading conditions seen over the past few sessions, inviting a wave of selling.  
  • The market bears forced their way out from a bearish pennant structure via the daily.  


ETH/USD daily chart

The price has broken out from a bearish pennant formation via the daily  chart view.  

ETH/USD 60-minute chart

A breakout from a narrowing  range-block has been observed, inviting  a fresh wave of selling.  


Spot rate:                   159.56

Relative change:       -6.90%

High:                          171.68

Low:                           155.54