ETHUSD Still bullish
Ethereum is struggling to move past the $450.00 resistance level as cryptocurrency traders await Bitcoin to make its next major directional move. The ETHUSD pair remains bullish in the short-term while price trades above last weeks key breakout zone, around the $420.00 level. Ethereum also has a strong weekly bullish bias after the cryptocurrency performed its second highest weekly price close in two years last week.
The ETHUSD pair is only bullish while trading above the $420.00 level, key resistance is found at the $470.00 and the $500.00 levels.
If the ETHUSD pair trades below the $420.00, sellers may test the $410.00 and $390.00 support levels.