ETHUSD downside risks grow
Ethereum remains vulnerable to further declines on the cryptocurrency market after the ETHUSD pair failed to rally alongside Bitcoin yesterday. Technical analysis shows that a break under the $355.00 support level could see the ETHUSD pair slipping towards the $320 level. Traders that are bullish towards Ethereum may look to buy the cryptocurrency in expectation of further upside towards the $400 level.
The ETHUSD pair is only bullish while trading above the $365.00 level, key resistance is found at the $435.00 and the $450.00 levels.
If the ETHUSD pair trades below the $365.00, sellers may test the $320.00 and $300.00 support levels.