Ethereum Technical Analysis: ETH/USD heading for another big potential devastating test of critical ascending trend line

• Ethereum price is struggling on Monday, holding losses of around 1% in the session.
• ETH/USD bears are pressing towards another test of a  long-running  daily ascending trend line.

Spot rate:                  138.54

Relative change:       -0.90%

High:                         142.99

Low:                          137.10

Trends:
       Daily SMA20:  135.95
       Daily SMA50:  127.62
       Daily SMA100:  123.89
       Daily SMA200:  163.25
Levels:
       Previous Daily High:  141.65
       Previous Daily Low:  137.9
       Previous Weekly High:  138.76
       Previous Weekly Low:  129.2
       Previous Monthly High:  167.77
       Previous Monthly Low:  101.12
       Daily Fibonacci 38.2%:  139.33
       Daily Fibonacci 61.8%:  140.22
       Daily Pivot Point S1:  137.91
       Daily Pivot Point S2:  136.03
       Daily Pivot Point S3:  134.16
       Daily Pivot Point R1:  141.67
       Daily Pivot Point R2:  143.54
       Daily Pivot Point R3:  145.42

ETH/USD 60-minute chart

• Near-term price action has formed a bearish pennant pattern formation, subject to potential breakout south.

ETH/USD daily chart

• The key ascending trend line has been running since 8th February, a breach could be punishing.
• If the above-noted fails to hold, there could be a retest of the $100 mark to the downside.