Ethereum technical analysis: ETH/USD facing rejection retesting bearish penannt and $200 mark
|- Ethereum price is trading in negative territory, nursing losses of some 2.60% on Friday.
- ETH/USD is retesting a breached daily pennant structure, failing to push above at the time of writing.
- The pychological $200 mark is now proving to see sellers preventing the price push back above.
Spot rate: 196.78
Relative change: -1.63%
High: 202.96
Low: 194.91
ETH/USD daily chart
- The price is retesting breached pennant structure, supply observed at the psychological $200 mark.
ETH/USD 60-minute chart
- Price action is being supported to the upside by a near-term ascending trend line.
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