ETHUSD watching $220.00 support

Ethereum is starting to come under pressure below the $230.00 level as the Bitcoin and the broader cryptocurrency market turn lower on Friday. A breakout under the $220.00 support level could see the ETHUSD pair suffering significant losses over the coming days. Trading volatility may start to increase during the US session as over $1 billion worth of Bitcoin options are set for expiration today.

• The ETHUSD pair is only bullish while trading above the $230.00 level, key resistance is found at the $250.00 and the $275.00 levels.

• If the ETHUSD pair trades below the $230.00, sellers may test the $220.00 and $190.00 support levels.