ETHUSD bounces from support

Ethereum is starting to recover higher in early week trade after the second-largest cryptocurrency found strong dip-buying interest from the $220.00 support area. ETHUSD bulls may now attempt to break through key weekly technical resistance, around the $250.00 level. Traders should note that a breakout above the $250.00 level exposes further upside towards the $280.00 level.

• The ETHUSD pair is only bullish while trading above the $230.00 level, key resistance is found at the $250.00 and the $280.00 levels.

• If the ETHUSD pair trades below the $230.00, sellers may test the $225.00 and $220.00 support levels.