Ethereum has bounced back towards the $240.00 resistance level after the cryptocurrency found strong dip-buying interest from the $220.00 level on Monday. A breakout above $250.00 resistance level could provoke a medium-term rally in the ETHUSD pair towards the $300.00 area. A breakout above the $9,800 for the BTCUSD pair should also encourage a rally in the ETHUSD pair.
The ETHUSD pair is only bullish while trading above the $230.00 level, key resistance is found at the $250.00 and the $275.00 levels.
If the ETHUSD pair trades below the $230.00, sellers may test the $225.00 and $220.00 support levels.
