ETH/USD should the bears breach $200 mark, it could invite further free fall

  • Ethereum price in the session on Friday is trading firmly in the red, down some 5.0%.
  • ETH/USD invited a wave of selling pressure, following a breakout from rising wedge structure. 
  • Buyers are fighting to protect the psychological $200 mark.

Spot rate:                 209.88

Relative change:      -3.50%

High:                         226.79

Low:                          207.27

ETH/USD daily chart

  • Price action is breaking out from a rising wedge structure, inviting a fresh wave of selling pressure.

ETH/USD 60-minute chart

  • Buyers protecting the $200 price mark, as can be seen via the 60-minute.

 

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