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  • Ethereum price on Wednesday is trading in minor negative territory, down some 0.40% in the second half.  
  • ETH/USD bulls managed to force a breakout from a descending wedge pattern on Tuesday, closing above.
  • Eyes are on a possible retest of the breached descending wedge formation.

 

Spot rate:                  137.46

Relative change:       -0.42%

High:                         141.85

Low:                          134.73

 

Trend:                        Neutral

 

Trends:
       Daily SMA20:  137.2
       Daily SMA50:  123.88
       Daily SMA100:  121.38
       Daily SMA200:  171.38
Levels:
       Previous Daily High:  138.91
       Previous Daily Low:  126.04
       Previous Weekly High:  167.77
       Previous Weekly Low:  127.73
       Previous Monthly High:  167.77
       Previous Monthly Low:  101.12
       Daily Fibonacci 38.2%:  133.99
       Daily Fibonacci 61.8%:  130.96
       Daily Pivot Point S1:  129.73
       Daily Pivot Point S2:  121.45
       Daily Pivot Point S3:  116.86
       Daily Pivot Point R1:  142.6
       Daily Pivot Point R2:  147.19
       Daily Pivot Point R3:  155.47

ETH/USD 60-minute chart

  • Price action is breaking out of a near-term ascending wedge formation, allowing further selling pressure to come into play.

ETH/USD daily chart

  • Bulls managed to force a breakout and closure above a troublesome descending wedge pattern.