ETH/USD consolidating following the big bull range breakout

Fibo Quantum

  • Ethereum price is trading in the red marginally, down 0.60% the session on Thursday.
  • ETH/USD is moving within consolidation mode following the strong range brekaout on Wednesday. 
  • The next major area of attraction for the bulls will likely be the pychological $200 mark.  

 

ETH/USD daily chart

The next barrier for the bulls to tackle is seen at the range of $200-205, the price may first be subject to a retest of the breached two-week range, down at $180. 

ETH/USD 60-minute chart

Important 60-minute support is observed at the $188 mark, failure to hold will invite a near-term wave of selling pressure. 

Spot rate:                  191.79

Relative change:      -0.60%

High:                         194.86

Low:                          187.71