ETHUSD sellers in control

Ethereum has fallen below key weekly technical support, as the Bitcoin and broader cryptocurrency market comes under selling pressure. A sustained breakout under the $365.00 level could see the ETHUSD pair falling towards the $300.00 level, and possibly lower. To the upside, ETHUSD bulls need to anchor price above the $415.00 level to encourage buying back towards the $440.00 level.

• The ETHUSD pair is only bullish while trading above the $365.00 level, key resistance is found at the $415.00 and the $440.00 levels.

• If the ETHUSD pair trades below the $365.00, sellers may test the $320.00 and $300.00 support levels.