21 June 2019, OctaFX – Ethereum price has moved within touching distance of the $280.00 resistance level as the ETHUSD pair finally starts to follow Bitcoin higher.
Ethereum price technical analysis
If bulls can breach the $285.00 level a bullish breakout towards the $320.00 level appears the most likely scenerario. Traders should track the action on the BTCUSD pair as it is starting to have a strong correlation with other top digital assets.
If the ETHUSD pair trades above the $285.00 level, key resistance is found at the $300.00 and $320.00 levels.
If the ETHUSD pair fails from the $280.00 level, key support is found at the $255.00 and $235.00 levels.
This article was provided by OctaFX. It should NOT substitute for professional marketing consulting. Forex margin trading involves substantial risks. Forex margin trading exposes participants to risks including, but not limited to, changes in political conditions, economic factors, and other factors. All of which may substantially affect the price or availability of one or more foreign currencies.