Ethereum Technical Analysis: ETH/USD still hope with bullish pennant structure

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  • Ethereum price on Thursday is trading in the red by just over 1%, as the bears remain in control. 
  • ETH/USD continues to head south, after completely losing ground on the early month upside momentum.
  • There is a glimmer of hope, as the price moves within a bullish pennant pattern structure. 

 

Spot rate:                  163.85

Relative change:      -1.32%

High:                         166.67

Low:                          162.25

 

ETH/USD 60-minute chart

  • Near-term price action is moving within somewhat of a bearish pennant/flag structure, which contradicts a bullish pennant eyed via the daily. 

ETH/USD daily chart

  • Price action via the daily is moving within a bullish pennant pattern formation, as a breakout higher is still eyed. 

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