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  • Ethereum price is trading in the red by some 0.15% in the session on Tuesday.  
  • ETH/USD price action gave up a run of four consecutive days in the green, following closure in the red on Monday.  
  • The price has been punished by a trailing descending trend line, forcing the bears to come back into play.  

 

ETH/USD daily chart

A rejection was seen at a descending trend line, which was part of a breached bearish pennant.  

ETH/USD 60-minute chart

Near-term price action is moving within a bearish pennant structure, subject to a potential breach.  

 

Spot rate:                     131.62

Relative change:         -0.15%

High:                             132.75

Low:                             130.60