ETH/USD bulls are attempting to break down heavy supply zone $200-205

Fibo Quantum

  • Ethereum price in the session on Monday is trading in positive territory by some 3.50%.
  • ETH/USD bulls are testing a strong area of supply, former acting demand, $200-205. 
  • Should the noted zone be broken down, a heavy wave of buying pressure may shortly follow. 

 

Spot rate:                  201.47

Relative change:      +3.50%

High:                         202.77

Low:                          193.05

 

ETH/USD daily chart

  • Price action is moving within a significant zone of $200-205 range, prior acting demand zone. 

ETH/USD 15-minute chart

  • Price action near-term is within consolidation mode, forming possible penannt structure.