- Ethereum price is trading in the red, down 6.70% the session on Wednesday.
- ETH/USD has smashed out from the narrowing trading conditions seen over the past few sessions, inviting a wave of selling.
- The market bears forced their way out from a bearish pennant structure via the daily.
ETH/USD daily chart
The price has broken out from a bearish pennant formation via the daily chart view.
ETH/USD 60-minute chart
A breakout from a narrowing range-block has been observed, inviting a fresh wave of selling.
Spot rate: 159.56
Relative change: -6.90%