- Ethereum price modest decent gains of over 3% on Friday, after price staged a rebound from Thursday's losses.
- ETH/USD price action has formed a descending channel formation, as seen on the 60-minute chart view.
- Bulls are forced to further retreat away from the $200 mark, sellers seen above.
ETH/USD 60-minute chart
Spot rate: 197.69
Relative change: +3.42%
Resistance 1: 198.60, upper part of channel.
Resistance 2: 203.58, 50MA (60-minute).
Resistance 3: 215.50, supply area & 100MA (60-minute).
Support 1: 187.50, lower part of channel.
Support 2: 180.00, support on 60-minute chart.
Support 3: 167.75, 12 September low.
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