Ethereum Technical Analysis: ETH/USD death wish under $100 mark

• Ethereum on Monday has taken a resumed beating, nursing losses of over 3% in the second half of the day.  
• The longer ETH/USD trades under the $100 mark, the more danger that looms for the price.  
• Price action has formed a bearish triangular pattern structure, which is vulnerable to another drop south.  

ETH/USD 4-hour chart

Spot rate:                   89.87

Relative change:       -3.21%

High:                          96.15

Low:                           89.78

Trend:                         Bearish

Support 1:                   87.96, lower part of wedge pattern.

Support 2:                   83.75, daily pivot point support.

Support 3:                   78.12, daily pivot point support.

Resistance 1:              97.94, upper part of wedge pattern.

Resistance  2:              100.07, daily pivot point resistance.

Resistance  3:              105.70, daily pivot point resistance.