The cryptocurrency has broken from a mildly
descending channel formed during yesterday's trading session.
There is
a descending channel forming with support around the $ 1200 level on the hourly chart of ETH / USD (data feed via SimpleFX).
Not exact matches
There is a
descending channel pattern with current resistance at $ 580
forming on the hourly chart of BCH / USD (data feed from Kraken).
The ranging
channel gave in to pressure and the price started another trend on Thursday
forming the
descending wedge pattern on the intraday 15» timeframe chart.
A major
descending channel is
forming around $ 670 which is also the 23.6 % Fib retracement level of the last swing high of $ 770 and a low of $ 647.