ETH/USD back to moving within a bearish pennant

Fibo Quantum

  • Ethereum price is trading in the red, down 2.40% the session on Thursday.
  • ETH/USD is back to moving within a bearish pennant structure, subject to further potential downside pressure. 
  • The bears failed to break down the strong barrier heading into $200. 

 

ETH/USD daily chart

Following a fakeout period between 23-24 October, ETH/USD is back within the confinements of a bearish pennant. 

ETH/USD 60-minute chart

.Near-term price action is moving within a descending channel structure

 

Spot rate:                  189.45

Relative change:      -2.40%

High:                         192.31

Low:                          184.99