ETHUSD breakout looms
Ethereum is nearing a key technical breakout above a long-term trendline as bullish sentiment continues to spread through the altcoin space. Traders that are bullish may wait for price stabilization above the $250.00 level in anticipation of a rally towards the $300.00 level. More conservative traders may wait for a pullback towards the $230.00 area to enter into the bullish trend.
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.