Ethereum has failed to recover above the $1,400 resistance level, placing the second-largest cryptocurrency in a difficult technical position. Traders that are bearish towards the ETHUSD pair may look for multiple daily price closes below the $1,340 level before initiating sell positions. To the upside, multi-day price stabilization above the $1,400 level should be considered extremely bullish.
The ETHUSD pair is only bullish while trading above the $1,340 level, key resistance is found at the $1,400 and the $1,440 levels.
If the ETHUSD pair trades below the $1,340, sellers may test the $1,200 and $1,000.00 support levels.