ETHUSD watching price channel
Ethereum is struggling to gain upside momentum as the cryptocurrency continues to closely track the price movements of Bitcoin. ETHUSD bulls need to move price inside a rising price channel, around the $250.00 level to encourage medium-term technical buying. Dip-buyers may still remain bullish towards the ETHUSD pair while price trades above the $230.00 support level.
The ETHUSD pair is only bullish while trading above the $230.00 level, key resistance is found at the $250.00 and the $285.00 levels.
If the ETHUSD pair trades below the $230.00, sellers may test the $217.00 and $200.00 support levels.