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Ethereum technical analysis: ETH/USD moving within bearish flag subject to potential breach

Updated: 2 Oct. 2019 | 18:52

Ethereum price is trading in the green, up 0.90% the session on Wednesday.
ETH/USD price action is moving within a bearish flag structure via the daily.
There is much supply heading into the pychological $200 area, capping the bulls.

ETH/USD daily chart

Price action is limited to the upside, the bulls continue to have problems with supply heading into the psychological $200 mark.

ETH/USD 60-minute chart

The price has broken out of a narrowing range-block and is at present retesting.

Spot rate: 179.15

Relative change: -1.50%

High: 179.07

Low: 174.26

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