Ethereum Technical  Analysis: ETH/USD potential bearish pennant eyed as price action narrows

• Etheruem price on Thursday was holding some very modest gains of just 1.5% in the latter stages of the session.
• ETH/USD price action is narrowing, as it moves within a bearish pennant pattern, subject to a potential break lower.  

ETH/USD 60-minute chart  

Spot rate:                    217.37

Relative change:        +1.52%

High:                           209.96

Low:                            221.35

Trend:                         Bullish/Neutral

Resistance 1:                  221.00, upper part of pennant pattern.  

Resistance 2:              223.15, 100MA (60-minute) & supply area.  

Resistance 3:              230.00, broken ascending trend line.  

Support 1:                    215.10,  50MA (60-minute).  

Support 2:                   211.30,  lower part of pennant pattern.  

Support 3:                   200.00,  psychological  support level.