Ethereum price struggled to climb higher and declined below the key $240 level against the US Dollar.
9 August 2019, OctaFX – The price of Ethereum continues to slip lower in early Friday trade after finding strong technical resistance from the $240.00 level earlier this week.
Ethereum price technical analysis
Sustained weakness below the $220.00 level will likely prompt an important technical test of the $207.00 support level. If ETHUSD bounces from the $220.00 level, the second-largest crypto could start to rally towards the $280.00 level.
If the ETHUSD pair trades below the $220.00 level, key support is found at the $207.00 and $190.00 levels.
If the ETHUSD pair trades above the $200.00 level, key resistance is found at the $240.00 and $280.00 levels
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