Ethereum has broken sharply to the downside, following the strong move lower in the BTCUSD pair, and other top cryptocurrencies. A bearish breakout from a rising price channel has taken place, placing the $300.00 level as a potential downside target. Sustained weakness below the 300.00 resistance level could provoke further selling in the ETHUSD pair towards the $275.00 area.
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 $300.00 and $275.00 support levels.
