ETHUSD Reversal underway
Ethereum has staged a major reversal on the cryptocurrency market, following a $4,000 price plunge in Bitcoin towards the $31,000 level. Traders that are bearish towards the ETHUSD pair may look to sell a rebound towards the technically important $1,340 resistance level. To the upside, the bearish case will be negated if bulls can close the daily candle above the $1,400 level.
The ETHUSD pair is only bullish while trading above the $1,340 level, key resistance is found at the $1,400 and the $1,440 levels.
If the ETHUSD pair trades below the $1,340, sellers may test the $1,240 and $1,100.00 support levels.