Ethereum is vulnerable to a strong downside correction after the cryptocurrency found meaningful resistance from the $440.00 area. ETHUSD could start to trade back under the $400.00 level if traders start to book profits and Bitcoin also corrects lower. To the upside, a sustained breakout above the $445.00 level is needed to encourage technical buying towards the $480.00 area.
The ETHUSD pair is only bullish while trading above the $400.00 level, key resistance is found at the $445.00 and the $480.00 levels.
If the ETHUSD pair trades below the $400.00, sellers may test the $380.00 and $350.00 support levels.
