Ethereum is under pressure on Tuesday, with short-term bulls taking back control of the cryptocurrency below the $180.00 support level. Going forward, the ETHUSD pair still has a strong correlation to Bitcoin, many altcoins are also breaking lower. Overall, a bearish head and shoulders pattern with strong downside potential has been triggered on the lower time frames.
If the ETHUSD pair trades below the $180.00 level, key support is found at the $165.00 and $150.00 levels.
If the ETHUSD pair trades above the $180.00 level, key resistance is found at the $200.00 and $250.00 levels.