ETHUSD moving lower
Ethereum is under heavy selling pressure, as the second largest cryptocurrency by market capitalization trades around the $380.00 support level. Technical analysis shows that a large head and shoulders pattern has formed across the lower time frame. A breakout under the $365.00 level could cause the ETHUSD pair to fall towards the $300.00 level, and possibly the $275.00 level.
The ETHUSD pair is only bullish while trading above the $395.00 level, key resistance is found at the $415.00 and the $440.00 levels.
If the ETHUSD pair trades below the $395.00, sellers may test the $300.00 and $295.00 support levels.