ETHUSD STRONGLY BEARISH BELOW $240.00

Ethereum has fallen sharply lower after the second largest cryptocurrency by market capitalisation broke under a triangle pattern. The ETHUSD pair is now trading its lowest level of 2018 and is likely to come under further technical selling pressure while trading below the $240.00 level. Sellers will try to target below $200.00 while buyers will attempt to stabilise price above the $240.00 level.

The ETHUSD pair is strongly bearish while trading below the $240.00 level, further losses towards the $200.00 and $180.00 levels seems possible.

If the ETHUSD pair moves above the $240.00 level, buyers will likely test towards the $250.00 and $262.00 resistance levels.