ETH/USD bulls heading for monumental supply barrier

  • Ethereum price in the session on Friday is trading with losses of some 1.30%.
  • ETH/USD bulls faced rejection within a chunky supply region $225-240 range.
  • The price has not traded above the noted zone since 13 July, proving its significance.

Spot rate:                 217.79

Relative change:      -1.45%

High:                         222.39

Low:                          214.77

ETH/USD daily chart

  • The bulls are heading for a big retest of a significant zone of supply $225-240 range. 

ETH/USD 60-minute chart

  • Near-term price action via the 60-minute chart view is moving within a bullish flag structure, subject to a breach.

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