ETH/USD bulls need to break down $175

• Ethereum price is trading in the red by 1.20% in the session on Wednesday. 
• The price range is seen at a high around $175 down to a low of $160.  
• Near-term price behaviour shows some vulnerabilities to the downside for ETH.

ETH/USD daily chart

The price has remained firmly within consolidation mode for going on some eight sessions. 

ETH/USD 60-minute chart

Near-term price action is narrowing within a bearish flag structure, subject to potential downside pressure. 

Spot rate:                     167.26     

Relative change:          -1.20%

High:                             171.00

Low:                              165.65