Ethereum Technical  Analysis: ETH/USD heading towards a daily close below the big $200 mark, spelling catastrophe

• Ethereum (ETH) was nursing whopping losses of over 11% in the session on Thursday.
• ETH/USD as covered in the post yesterday, it was presenting vulnerabiities given the ascending channel seen.
• A daily close below the pyscological $200 mark could be devasting for Ethereum.  

ETH/USD 60-minute chart  

Spot rate:                   198.83.

Relative change:       -11.66%

High:                          226.70

Low:                           195.42

Trend:                        Bearish

Support 1:                 197.25, support on 60-minute chart.

Support  2:                 194.15,  demand zone.

Support  3:                 185.53, 9 September low.  

Resistance  1:            201.00, resistance on 60-minute chart.

Resistance  2:            205.10, prior acting demand zone.  

Resistance  3:            210-215.00, choppy supply area.