- Ethereum price was seen in the green on Wednesday, trading up some 0.55%.
- ETH/USD is moving within an ascending channel formation, subject to a potential break lower.
- Chunky buying was seen from the back-end of Tuesday at the big $200 area.
ETH/USD 60-minute chart
Spot rate: 204.63
Relative change: +0.55%
High: 205.30
Low: 203.92
Trend: Bearish
Support 1: 204.40, ascending channel.
Support 2: 202.25, support on 60-minute.
Support 3: 200.00, chunky demand zone.
Resistance 1: 205.20, resistance on 60-minute.
Resistance 2: 206.12, upper part of channel.
Resistance 3: 207.00, supply zone.
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