Ethereum technical analysis: ETH/USD facing rejection retesting bearish penannt and $200 mark

• Ethereum price is trading in negative territory, nursing losses of some 2.60% on Friday.
• ETH/USD is retesting a breached daily pennant structure, failing to push above at the time of writing.  
• The pychological $200 mark is now proving to see sellers preventing the price push back above.  

Spot rate:                  196.78

Relative change:       -1.63%

High:                          202.96

Low:                           194.91

ETH/USD daily chart

• The price is retesting breached pennant structure, supply observed at the psychological $200 mark.

ETH/USD 60-minute chart

• Price action is being supported to the upside by a near-term ascending trend line.