ETHUSD BEARISH PATTERN STILL VALID
Ethereum continues to consolidate towards the lower end of its recent after the second largest crypto by market capitalisation was sold from the $290.00 level. A bearish head and shoulder pattern is visible with a downside projection of around $60.00.
The MACD indicator across the four-hour time frame also failed to gain bullish momentum so far this week.
The ETHUSD pair is bearish while trading below the $300.00 level, key technical support is located at the $250.00 and $240.00 levels.
If the ETHUSD pair moves above the $300.00 level, price may advance towards the $320.00 and $351.00 resistance levels.
The MACD indicator across the four-hour time frame also failed to gain bullish momentum so far this week.
The ETHUSD pair is bearish while trading below the $300.00 level, key technical support is located at the $250.00 and $240.00 levels.
If the ETHUSD pair moves above the $300.00 level, price may advance towards the $320.00 and $351.00 resistance levels.
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