Home Ethereum Ethereum technical analysis: ETH/USD bulls are breaking out from bearish technical structure – FXStreet

Ethereum technical analysis: ETH/USD bulls are breaking out from bearish technical structure – FXStreet

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  • Ethereum price on Monday in the second half of the day holding decent gains of 4%.
  • ETH/USD bulls extend further out from a bearish pennant structure, which has contained price.
  • The door has been left open for further upside, given the escape from the noted technical structure. 

Spot rate:                 231.66

Relative change:      +4.05%

High:                         236.94

Low:                          222.71

ETH/USD 60-minute chart

  • Near-term price action via the 60-minute chart view has seen a bearish shooting star candlestick, indicating a small pullback could be seen. 

ETH/USD daily chart

  • The bulls are extending north following the escape from a bearish pennant set up.  

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