Ethereum Technical Analysis: ETH/USD seatbelts have been fasted by the bulls, they look ready for the rocket launch

• Ethereum seen up a healthy 3.5% on Wednesday, staging a rebound to recover losses.
• ETH/USD like several its peers, has formed a bullish pennant pattern, subject to a break north.

ETH/USD 30-minute chart

Spot rate:                    6395.3

Relative change:        +3.33%

High:                           6483.0

Low:                            6180.0

Trend:                         Bearish

Resistance 1:                     291.15, 100MA.

Resistance 2:                      306.50, supply zone.

Resistance 3:              320.00, (resistance on 30-minute chart).

Support 1:                    284.45, above breached pennant.

Support    2:                  280.90, lower trend line within breached pennant.  

Support    3:                  275.80, 50MA.