Ethereum technical analysis: ETH/USD bulls failure to breakdown $180 barrier may prove to be devastating

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  • Ethereum price is trading in negative territory, losses of some 1.90% on Wednesday.
  • ETH/USD bulls hit with further rejection at the $180 price territory, as seen over the past four sessions. 
  • A big retest of daily support could be seen down at $165 price mark, failure to hold could be punishing. 

Spot rate:                 181.84

Relative change:      -0.10%

High:                         182.44

Low:                          175.53

ETH/USD daily chart

  • The price continues to face rejection in a big supply area, the first barrier stands at $180, running up to $200. 

ETH/USD 60-minute chart

  • Market bears are testing critical near-term support at the lower end of the current narrowing range.