Ethereum Technical Analysis: ETH/USD bulls too scared to commit,  Vitalik says Ethereum’s 2017 bull-run was attributed to hype

• Ethereum was nursing losses again, down 2.8% into the mid-point of trading on Monday.  
• ETH/USD bulls have failed to show any signs of  commitment  since forming a bottom.  
• Ethereum’s Vitalik Buterin said the future of crypto adoption is reliant on useful applications of digital currencies, as the hype seen in 2017 has passed.
• Price is moving within a range-block, lack of firm direction as of yet.

ETH/USD daily chart

Spot rate:                   112.87

Relative change:       -2.11%

High:                          116.24

Low:                           111.69

Trend:                         Bearish

Support 1:                   113.90, daily pivot point support.

Support 2:                   111.83, daily pivot point support.

Support 3:                   108.21, daily pivot point support.

Resistance 1:              119.58, daily pivot point resistance.

Resistance  2:              123.20, daily pivot point resistance.

Resistance  3:              125.27, daily pivot point resistance.

ETH/USD 60-minute chart

• Shorts would likely come into play below $100, longs above $130 area, for big shifts in momentum.