ETHUSD still bearish below $126.00 level
Ethereum remains under pressure on Friday, as the third largest cryptocurrency by market capitalization struggles to attract short-term buying interest. The Relative Strength and Momentum indicators on the four-hour time frame are currently neutral, suggesting further price consolidation ahead. Overall, a clear break from the $110.00 to $126.00 levels is needed to move away from the current narrow trading ranges.
The ETHUSD pair is only bullish while trading above the $126.00 level, key resistance remains at the $158.00 and $170.00 levels.
If ETHUSD pair trades back under the $110.00 level, sellers may test towards the $98.00 and $80.00 support levels.