Ethereum Technical Analysis: ETH/USD makes a late attempt on Friday to recover some losses, as price jumps out of bull flag pattern

• Ethereum hit on Friday, nursing losses of over 3%, with what continued to be a bearish week.
• ETH/USD price cooled during the session, after the large surge seen on Thursday, but price action had been forming a bullish flag pattern.
• Soft sentiment across the crypto market, has most likely added to some of the selling pressure seen.

ETH/USD 30-minute chart

Spot rate:                                     502.89

Relative change:               -3.25%

High:                                                       521.62

Low:                                                       485.51

Trend:                                                   Bearish

Support 1:                                 497.90, top of bull flag.

Support 2:                                   491.70, 100MA.

Support 3:                                   483.81, lower trend line of bull flag.

Resistance 1:                        506.50, 50MA.

Resistance 2:                        526.52, (resistance on 30-minute chart).    

Resistance 3:                        533.00, supply zone.