Ethereum Price Analysis: ETH/USD big breakout looming

• Ethereum price is trading in the green by +2.30% in the session on Friday. 
• The bulls are pressing for a breakout from a descending channel structure. 
• In terms next major zone of support, this is seen from a range of $160-150. 

ETH/USD weekly chart

The price is running at its fourth consecutive week in the green, having jumped from $120 up to $175. Market bulls are attempting to breakout from a descending channel structure. 

ETH/USD daily chart

Price action is flirting with the upper acting trend line of the channel, attempting to force a breach. 

Spot rate:                     161.19               

Relative change:          +2.30%

High:                            174.22

Low:                             162.08