Ethereum technical analysis: ETH/USD price behavior and formation suggests of another potential fall

• 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:                          188.14

Low:                           184.02

ETH/USD daily chart

• The price is narrowing within a penannt, following the breakout of a bearish flag earlier in the month.  

ETH/USD 60-minute chart

• Price action via the 60-minute chart view is moving within a triangular structure.