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Ethereum technical analysis: ETH/USD moves within near-term bearish flag

Ethereum price is trading up some +2.50% in the second half of the session on Friday.  

ETH/USD price action via the 60-minute chart view is moving within a bearish flag structure, subject to a potential breakout south.

Large daily supply at the $280 price area for ETH/USD, difficult barrier for the bulls.  

Spot rate:                 275.23

Relative change:       +2.50%

High:                         279.67

Low:                          265.91

 

ETH/USD 60-minute chart

60-minute chart view shows the price moving within a bearish flag structure.  

ETH/USD daily chart

Price action via the daily chart view is facing chunky supply at $280 price mark.  

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