ETH/USD launches well into bullish mode, breaking pennant to the upside


  • Ethereum price makes decent ground to recover recent losses encountered, up over 5% on Monday.
  • ETH/USD breaks out from a bullish pennant pattern, looking to push to the upper part of a descending channel.

ETH/USD 60-minute chart

Spot rate:                   475.61

Relative change:         +5.22%

High:                           479.00

Low:                            443.10

Trend:                         Bullish

Resistance 1:             479.00, today’s (Monday) high.

Resistance 2:              490.40, upper resistance of descending channel.

Resistance 3:              500.00, psychological resistance.

Support 1:                   462.58, (support on 60-minute chart).

Support 2:                   450.10, on top of broken pennant pattern.

Support 3:                   441.50, (support on 60-minute chart).

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