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  • Ethereum price is trading in the red by 0.10% in the session on Wednesday. 
  • ETH/USD is set for further potential damage as the price consolidates within a narrow range. 
  • The next major support for the price is eyed at $100, a breach would be damaging.  

ETH/USD daily chart

Trading conditions are tight within a pennant pattern via the daily chart view. The narrowing has been observed for going on six sessions. 

ETH/USD 60-minute chart

The price has smashed out of a bearish flag to the downside, inviting further pressure south. Eyes on a possible retest. 

Spot rate:                     111.71

Relative change:          -0.10%

High:                             118.44

Low:                              110.25