ETHUSD watching $240.00

Ethereum is starting to move higher alongside the broader crypto market after sellers failed to hold price below the technically important $217.00 support level. The ETHUSD pair could surge towards the $250.00 level if bulls can overcome the $240.00 level. A technical rejection from the $240.00 resistance level could see the ETHUSD falling back towards the $230.00 support area.

• The ETHUSD pair is only bullish while trading above the $240.00 level, key resistance is found at the $250.00 and the $285.00 levels.

• If the ETHUSD pair trades below the $240.00, sellers may test the $230.00 and $220.00 support levels.