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Feb 19, 2020
ETHUSD higher before lower
Ethereum has started to stabilize above the $250.00 level after suffering a heavy sell-off earlier this week alongside the broader cryptocurrency market. The ETHUSD pair may need to test back towards the $290.00 level as traders seek confirmation that a high was formed last week. Overall, traders should be cautious that the ETHUSD pair needs to test higher before turning lower again.
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The ETHUSD pair is only bullish while trading above the $250.00 level, key resistance is found at the $290.00 and the $300.00 levels.
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If the ETHUSD pair trades below the $250.00, sellers may test the $235.00 and $195.00 support levels.