Ethereum has staged a strong technical pullback alongside the broader cryptocurrency market, after peaking just under the $500.00 level earlier this week. Technical analysis on the lower time frames shows that a large bullish reversal pattern will form if the price reaches the $490.00 resistance zone. Traders that have been looking for a pullback to enter back into the bullish trend may have got their chance.
The ETHUSD pair is only bullish while trading above the $395.00 level, key resistance is found at the $485.00 and the $520.00 levels.
If the ETHUSD pair trades below the $395.00, sellers may test the $380.00 and $370.00 support levels.
