Market Overview

ETH/USD Bearish Flag Breakout

ETH/USD Bearish Flag Breakout
  • Ethereum price is trading in the red, down 3.30% the session on Wednesday.
  • ETH/USD is breaking out from a bearish flag structure, which is inviting further sellers. 
  • The price has struggled to escape a bearish trend since June, rallies continue to be sold.

ETH/USD daily chart
Price action has breached a bearish flag structure, leaving the door open to another wave of selling.

ETH/USD 60-minute chart
A near-term bearish pennant structure has been breached via the 60-minute chart view.

Image Sourced from Pixabay


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