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Ethereum Technical Analysis: ETH/USD price action forms a bearish pennant pattern, breakout is imminent

FX Street

Updated: 13 Aug. 2018 | 16:48

Ethereum price is seen nursing minor losses just shy of 1% in the session on Monday.
ETH/USD has formed another bearish pennant pattern with recent price action.

ETH/USD daily chart

Spot rate: 315.17

Relative change: -0.87%

High: 323.55

Low: 312.78

Trend: Bearish.

Support 1: 315.00, lower part of pennant.

Support 2: 312.85, (support on 60-minute chart).

Support 3: 310.00, demand zone.

Resistance 1: 318.60, 50MA.

Resistance 2: 321.90, upper part of pennant.

Resistance 3: 335.10, 100MA.

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