ETHUSD Attempting recovery
Ethereum is attempting to recover high in early Friday trade after suffering a steep decline just below the $480.00 support region. Technical analysis shows that the ETHUSD pair could bounce back towards the $640.00 region if the $590.00 level is overcome. To the downside, a sustained breakout below the $490.00 level could see the ETHUSD pair testing back towards the $365.00 area.
The ETHUSD pair is only bullish while trading above the $590.00 level, key resistance is found at the $640.00 and the $680.00 levels.
If the ETHUSD pair trades below the $590.00, sellers may test the $480.00 and $420.00 support levels.