ETHUSD Breaks support
Ethereum has broken below important technical support during the European trading session, as the second-largest cryptocurrency starts to follow Bitcoin lower. The ETHUSD pair could test towards the $330.00 support area if weakness below $380.00 persists. Technical analysis on the four-hour time frame suggests that a bearish breakout from a rising wedge pattern has taken place.
The ETHUSD pair is only bullish while trading above the $380.00 level, key resistance is found at the $390.00 and the $400.00 levels.
If the ETHUSD pair trades below the $380.00, sellers may test the $360.00 and $330.00 support levels.