Ethereum technical analysis: ETH/USD must breakdown big barrier $230-240 for greater upside

• Ethereum price in the second half of the day on Wednesday, is trading in minor positive by just some 1.40%.  
• ETH/USD is being capped to the upside by a big area of supply, $230-240 range.  
• There is decent near-term support to comfort the bulls, while they attempt at breaking down the noted resistance.  

Spot rate:                  229.10

Relative change:        +1.40%

High:                          231.24

Low:                           223.29

ETH/USD 60-minute chart

• A near-term trend line can be observed providing needed support for the price.  

ETH/USD daily chart

• A chunky area of supply can be observed running from $230 – $240 via the daily.