ETH/USD bulls must break above critical barrier for further upside pressure

  • Ethereum price on Monday is holding strong gains of over 5% in the latter part of the session. 
  • ETH/USD bulls are retesting breached critical ascending trend line of support. 
  • A break above the noted new acting resistance could provide a fresh strong wave of buying pressure.  

Spot rate:                 243.35

Relative change:      +%

High:                        246.72

Low:                         227.58

ETH/USD 60-minute chart

  • Near-term price acting breaks above a 60-minute descending trend line of support, giving room for a move back into $250. 

ETH/USD daily chart

  • Price action via the daily chart view remains below the breached supporting trend line seen last week. The bulls must break back above for further upside pressure. 

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