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  • Ethereum price is marginally within negative territory, but price behaviour looks promising for bulls.
  • After the 10% jump on Tuesday, the price is within a path of short-term consolidation.
  • ETH/USD price action has formed a bull flag, which is subject to a breakout higher.

 

ETH/USD 30-minute chart

Spot rate:                                     567.20

Relative change:               +0.05%                      

High:                                                       585.37

Low:                                                       558.44

 

Trend:                                                   Bullish/Neutral

 

 

Resistance 1:                           577.10, (support on 30-minute chart)

Resistance 2:                           585.37, today’s high (Wednesday).

Resistance 3:                           605, early supply zone territory.

Support 1:                                   561.15, lower trend line of bull flag.

Support 2:                                    559.00, 200MA

Support 3:                                    551.50, 50% Fibonacci.