Ethereum Technical Analysis: ETH/USD subject to a breakout from its narrowing form

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  • Ethereum price on Friday is trading in minor negative territory, down some -0.9% in the second half of the session.
  • ETH/USD price action is narrowing within a triangular structure formation, subject to a breakout. 
  • The bulls are attempting to reclaim the $200 price territory, last traded here back in November 2018.

Spot rate:                  172.81

Relative change:      -0.90%

High:                         174.67

Low:                          169.85

ETH/USD 60-minute chart

  • Price action via the 60-minute chart view is supported to the upside by an ascending trend line. 

ETH/USD daily chart

  • The price is narrowing within a triangular structure, also viewed as a pennant formation, subject to a breakout. 

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