ETHUSD awaiting triangle break
Ethereum is attempting to recover higher, after the second largest cryptocurrency found strong technical support from the $120.00 level earlier this week. The ETHUSD pair is awaiting a directional breakout, as price remains trapped within a large symmetrical triangle pattern on the four-hour time frame. Traders should watch for a sustained breakout from the $115.00 to $158.00 price range.
The ETHUSD pair is bearish while trading below the $115.00 level, key support is found at the $100.00 and $85.00 levels.
If the ETHUSD pair trades above the $158.00 level, key resistance is found at the $175.00 and $200.00 levels.