ETH/USD continues to remain vulnerable within bearish pennant

Fibo Quantum

  • Ethereum is trading in the green, up with gains of some 1.90% in the second half of Thursday.
  • ETH/USD via the daily view is moving within a bearish pennant structure. 
  • There is a large daily barrier seen to the upside at $240 price mark, capping bulls. 

 

Spot rate:                 220.71

Relative change:      +1.90%

High:                         226.00

Low:                          215.51

ETH/USD 60-minute chart

  • Price action has been moving within a narrowing range via the 60-minute view for much of the session. The range to the upside of $225 the low $221. There is a lack of directional commitment at present. 

Chart to follow. 

ETH/USD daily chart

  • The price is moving within the confinements of a bearish pennant structure, subject to a potential breakout south. 

Chart to follow.