Ethereum is trading towards two-week trading high, following yesterday’s strong recovery in the BTCUSD and the altcoin space. Lower time frame analysis shows that the ETHUSD pair is trading within a rising price channel between the $350.00 and $400.00 level. Continued gains above the $365.00 level could see the ETHUSD staging a major technical test of the $400.00 resistance level.
The ETHUSD pair is only bullish while trading above the $365.00 level, key resistance is found at the $400.00 and the $450.00 levels.
If the ETHUSD pair trades below the $365.00, sellers may test the $350.00 and $325.00 support levels.
