ETHUSD bullish momentum growing
Ethereum continues to hold firm around the $150.00 level, despite bearish fundamental developments surrounding the ETHUSD pair on Tuesday. Buying momentum is growing in the short and medium-term, with the ETHUSD pair also exhibiting the formation of a bullish cup and handle pattern on the lower time frames. Only a strong move below the $138.00 support level can negate upside pressures.
The ETHUSD pair is bullish while trading above the $138.00 level, key resistance is found at the $172.00 and $195.00 levels.
If ETHUSD pair trades below the $138.00 level, sellers may test towards the $125.00 and $108.00 support levels.