ETHUSD BULLS NEED TO BREAK THE $125.00 LEVEL

Ethereum has slipped under the $110.00 level in early week trade after the recent short-term recovery met strong technical resistance from the $125.00 level. Buyers now need to break the $125.00 level in order to find further bullish momentum for an attack on the $140.00 resistance level. A sustained loss of the $100.00 support level should put the ETHUSD pair under considerable selling pressure.

If the ETHUSD pair trades below the $100.00 level, sellers are likely to test towards the $97.60 and $90.00 support levels.

If ETHUSD buyers breach the $125.00 resistance level, further upside towards the $140.00 and $170.00 levels seems possible.