ETHUSD CORRECTION EXPECTED TO CONTINUE
Ethereum remains in correction mode on Monday alongside the broader cryptocurrency market, with the second largest crypto now pressing against the $300.00 resistance level.
If we see buyers break the $310.00 and hold price above this key area, a larger corrective move towards $350.00 seems likely. The MACD indicator across the four-hour time frame also suggests a large directional move is about to take place.
The ETHUSD pair is bullish while trading below the $300.00 level, key technical resistance is located at the $310.00 and $350.00 levels.
If the ETHUSD pair fails to break the $300.00 level, price may fall towards the $283.00 and $270.00 support levels.
If we see buyers break the $310.00 and hold price above this key area, a larger corrective move towards $350.00 seems likely. The MACD indicator across the four-hour time frame also suggests a large directional move is about to take place.
The ETHUSD pair is bullish while trading below the $300.00 level, key technical resistance is located at the $310.00 and $350.00 levels.
If the ETHUSD pair fails to break the $300.00 level, price may fall towards the $283.00 and $270.00 support levels.
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