ETHUSD bearish pattern looms
Ethereum is starting to erase Friday’s solid gains as the second largest cryptocurrency comes under early week selling pressure. A bearish head and shoulders pattern is looming over the four-hour time frame, with bulls needing to move price above the $185.00 level to invalidate the pattern. Key intraday technical support for the ETHUSD pair is found at the $154.00 level.
If the ETHUSD pair trade below the $160.00 level, key support is located at the $154.00 and $140.00 levels.
If ETHUSD bulls defend the $160.00 level, key resistance is found at the $175.00 and $185.00 levels.