Ethereum Technical  Analysis: ETH/USD slammed hard to the downside by the big bad bears, chunky losses over 7.5%

• Ethereum price plummets on Wednesday over 7.5%, big under-performer across altcoins.  
• ETH/USD extends move to the downside, further playing to the textbook post the breakout from a bearish pennant pattern.

ETH/USD 60-minute chart  

Spot rate:                    171.04

Relative change:        -7.58%

High:                           185.17

Low:                            167.32

Trend:                         Bearish

Support 1:                   169.14, 11th July 2017 low.

Support    2:                  160.10,  support on 60-minute chart.

Support    3:                  136.05, 16th July low & demand area.

Resistance 1:              175.00, resistance on 60-minute chart.

Resistance 2:             176.95, 11th September low.

Resistance 3:             185-189.00, supply zone & underneath breached  pennant.