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  • Ethereum (ETH) price was seen nursing minor losses of some 0.20% on Thursday, but near-term price action looked promising.
  • ETH/USD price action has formed a bullish flag pattern, which is seen with a number of its peers.
  • Bulls will be  targeting  another near-term firm move back above $200.  

 

ETH/USD 60-minute chart  


 

Spot rate:                   197.37

Relative change:       +0.21%

High:                          200.03

Low:                           192.39

 

Trend:                        Neutral

 

Support 1:                  197.30, lower trend line of bull flag.

Support  2:                  196.58. 50MA (60-minute).  

Support  3:                  193.44, daily pivot point support.

Resistance 1:             198.05, 100MA (60-minute) & upper pennant resistance.  

Resistance 2:             201.09, daily pivot point resistance.  

Resistance 3:             204.38, consolidation area,  daily pivot point resistance.