ETHUSD TRADING IN A SYMMETRICAL TRIANGLE
Ethereum continues to trade at depressed levels on Tuesday, as the second largest cryptocurrency continues to diverge from the value of its nearest rival Bitcoin. The ETHUSD pair is currently trading in a symmetrical triangle pattern, pointing to an impending technical breakout. The MACD indicator on the four-hour time frame is also suggesting that downside pressure is starting to resume.
The ETHUSD pair is bearish while trading below the $260.00 level, key support is found at the $240.00 and $220.00 levels.
If the ETHUSD pair moves above the $290.00 level, buyers may push price towards the $300.00 and $351.00 resistance levels.
The ETHUSD pair is bearish while trading below the $260.00 level, key support is found at the $240.00 and $220.00 levels.
If the ETHUSD pair moves above the $290.00 level, buyers may push price towards the $300.00 and $351.00 resistance levels.
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