ETH/USD breakout and retest of the daily bearish flag remains in play

Fibo Quantum

  • Ethereum price is trading in the green, up 0.55% the session on Monday.
  • ETH/USD has broken out and the retest of a bearish flag structure continues to be observed. 
  • Strong resistance is observed via the $180 price territory, which was the lower acting trend line of the flag.

 

ETH/USD daily chart

The price is vulnerable to further downside momentum if the retest is met with rejection. 

ETH/USD 60-minute chart

Supply is seen ahead of the $180 area, ranging from $178-179 via the 60-minute. 

 

Spot rate:                  176.58

Relative change:      +0.55%

High:                         178.28

Low:                          173.61