Ethereum is pressing against the $120.00 resistance level, with short-term bulls struggling to move price above the ETHUSD pairs 200-period moving average on the four-hour time frame. If buyers break this key moving average an advance towards the $140.00 level is possible, with the $160.00 level extended resistance. Continued failure around the $120.00 may provoke technical selling back towards the $108.00 technical support region.
The ETHUSD pair is bullish while trading above the $120.00 level, key resistance is found at the $140.00 and $160.00 levels.
If the ETHUSD pair fails around the $120.00 level, key support is found at the $115.00 and $108.00 levels.
