Ethereum is still trading on the defensive on Tuesday, as the pair awaits the next directional move in the broader cryptocurrency market. If bulls can keep price above the $168.00 level, the ETHUSD pair can form a strong reversal pattern. According to the size of the pattern, a move above the $188.00 level this week would take the ETHUSD pair towards the $208.00 level.
• If the ETHUSD pair trades above the $188.00 level, key resistance is found at the $197.00 and $208.00 levels.
• If the ETHUSD pair trades below the $188.00 level, key support is found at the $168.00 and $150.00 levels.
• If the ETHUSD pair trades above the $188.00 level, key resistance is found at the $197.00 and $208.00 levels.
• If the ETHUSD pair trades below the $188.00 level, key support is found at the $168.00 and $150.00 levels.
