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  • Ethereum price late on Wednesday was trading down with minor losses of some 0.50% in the second half.  
  • ETH/USD price action via the daily chart view is moving within a bearish pennant  pattern.  
  • Near-term descending channel formation eyed via the 60-minute chart view.


Spot rate:                  133.24

Relative change:       -0.55%

High:                         134.76

Low:                          131.64

       Daily SMA20:  137.8
       Daily SMA50:  125.97
       Daily SMA100:  122.89
       Daily SMA200:  166.04
       Previous Daily High:  136.51
       Previous Daily Low:  129.2
       Previous Weekly High:  141.86
       Previous Weekly Low:  123.9
       Previous Monthly High:  167.77
       Previous Monthly Low:  101.12
       Daily Fibonacci 38.2%:  133.72
       Daily Fibonacci 61.8%:  131.99
       Daily Pivot Point S1:  130.43
       Daily Pivot Point S2:  126.16
       Daily Pivot Point S3:  123.12
       Daily Pivot Point R1:  137.75
       Daily Pivot Point R2:  140.79
       Daily Pivot Point R3:  145.06

   ETH/USD 60-minute chart

  • Price action moving within a descending channel formation via the 60-minute chart view.
  • Bulls faced rejection at resistance by the upper acting trend line of the descending channel.  

ETH/USD daily chart

  • ETH/USD remains within the  confinements of a bearish pennant  pattern formation.