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  • Ethereum price trades down some 0.35% in the latter stages of trading on Tuesday.
  • ETH/USD price action has formed a bearish  pennant pattern, seen within the 60-minute chart view.  
  • Bearish technical set up could be devastating for ETH/USD within the near-term.

 

ETH/USD 60-minute chart  


 

Spot rate:                   195.08

Relative change:       -0.37%

High:                          204.23

Low:                           193.95

 

Trend:                        Bearish

 

Support 1:                  195.00, lower part pennant.

Support  2:                  191.77, daily pivot point support.  

Support  3:                  187.72, daily pivot point support.  

Resistance:                196.28, upper part of pennant

Resistance:                197.25, resistance (60-minute).

Resistance:                202.05, daily pivot point resistance.