Ethereum remains well-supported on dips, with the second-largest cryptocurrency having a bullish short-term bias while price trades above the $200.00 level. Technical analysis currently shows that the ETHUSD pair remains trapped within a large rising price channel. Traders should be aware that rising price channel is currently located between the $190.00 to $255.00 levels.
The ETHUSD pair is only bullish while trading above the $200.00 level, key resistance is found at the $230.00 and the $255.00 levels.
If the ETHUSD pair trades below the $200.00, sellers may test the $190.00 and $175.00 support levels.
