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  • Ethereum up trending defend trendline support; upside limited at $180.
  • A breakout below the trendline could be necessary for Ethereum to create fresh demand for the next recovery phase to $200.

ETH/USD daily chart

Likely trendline support breakdown to find support at the 100 simple moving average (SMA).

The retreating relative strength index (RSI) suggests that the downtrend is yet to find a bottom.

ETH/USD 240′ chart

The forming rising wedge pattern could give the bears a push towards $170 and $160 support levels respectively.

The zone at $150 – $160 came out as strong support during the recent declines.