Ethereum technical analysis: ETH/USD bulls dealing with rejection as price retests breached pennant

• Ethereum price is trading in negative territory, small losses of some 0.60% on Wednesday.
• ETH/USD bulls attempted to retest a breached technical pennant but dealt a rejection below so far.
• Strong barriers of resistance can see ahead at $180 and $200 respectively.  
• The next major area of support to the downside is seen at the $150 price territory.  

Spot rate:                  178.06

Relative change:       -0.10%

High:                          180.49

Low:                           176.42

ETH/USD daily chart

• The price has been left exposed following the breakout below the $200 zone and then key support at $180.  

ETH/USD 60-minute chart

• Price action is moving within a near-term bullish flag structure via the 60-minute.