ETHUSD key trendline support holds
Ethereum bulls are attempting to recover upside momentum in early Tuesday trade, with the ETHUSD pair bouncing sharply from key trendline support. If buyers can sustain the recovery, the recent pullback will have created a third higher trading low for the ETHUSD pair. Bullish momentum is also building, as the MACD indicator on the one and four-hour time frames are starting to move higher.
The ETHUSD pair is bullish while trading above the $126.00 level, key resistance is found at the $158.00 and $170.00 levels.
If ETHUSD pair trades back under the $126.00 level, sellers may test towards the $110.00 and $92.00 support levels.