ETHUSD Watching key trendline
Ethereum is on the rise alongside the broader cryptocurrency market, following yesterday’s heavy rejection from the $1,610 level. The four-hour time frame shows that a breakout above key trendline resistance, around the $1,620 level, could cause a rally towards the $1,750 area. Failure to break the $1,620 resistance level could cause the LTCUSD pair to falter back towards the $1,400 level.
The ETHUSD pair is only bullish while trading above the $1,610 level, key resistance is found at the $1,650 and the $1,750 levels.
If the ETHUSD pair trades below the $1,610, sellers may test the $1,500 and $1,400 support levels.