ETH/USD bounces off a critical area of support

  • Ethereum price in the second part of Friday is trading in minor positive, gains of some 2.5%. 
  • ETH/USD bounced off a critical ascending trend line of support, a failure to hold could see $200 at threat. 
  • Should the bulls break down the monthly high at $288, eyes will be on a firm move into $300 territory. 

 

Spot rate:                  260.85

Relative change:      +2.50%

High:                         262.53

Low:                          244.84

ETH/USD 60-minute chart

  • Price action earlier in the session managed to break out from a narrowing range-block formation, the price has retested and now room to push further north. 

ETH/USD daily chart

  • A near-term critical area of support has been tested, an ascending trend line, a breach could expose $200 to the downside. Otherwise, eyes on a bounce for another attempt at the $300 territory. 

Crypto Destroyer

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