Ethereum has staged a technical pullback after setting a new multi-year trading high on Tuesday, just below the $640.00 resistance level. Technical analysis shows that bulls are likely to buy into the recent drop as long as the technically important $480.00 support level holds. The weekly time frame is showing that the ETHUSD pair still has scope to advance towards the $780.00 area.
The ETHUSD pair is only bullish while trading above the $560.00 level, key resistance is found at the $640.00 and the $690.00 levels.
If the ETHUSD pair trades below the $560.00, sellers may test the $540.00 and $520.00 support levels.
