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

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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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