Ethereum technical analysis: ETH/USD bulls are attempting to break down heavy supply zone $200-205

• Ethereum  price in the session on Monday is trading in positive territory by some 3.50%.
• ETH/USD bulls are testing a strong area of supply, former acting demand, $200-205.  
• Should the noted zone be broken down, a heavy wave of buying pressure may shortly follow.  

Spot rate:                   201.47

Relative change:       +3.50%

High:                          202.77

Low:                           193.05

ETH/USD daily chart

• Price action is moving within a significant zone of $200-205 range, prior acting demand zone.  

ETH/USD 15-minute chart

• Price action near-term is within consolidation mode, forming possible penannt structure.