ETH/USD subject to breakout of bearish flag

  • Ethereum price is trading in the red, down 4.50% the session on Thursday.
  • ETH/USD price action is moving within a bearish flag structure via the daily.
  • The price is largely capped by resistance heading into the $180 mark. 

 

ETH/USD daily chart

Price action is limited to the upside, the bulls continue to have problems with supply heading into the $180 mark. 

 

ETH/USD 60-minute chart

 

The price is moving within a rising channel structure, subject to a potential breakout south. 

 

Spot rate:                  172.78

Relative change:      -4.50%

High:                         181.34

Low:                          170.72

 

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