17 May 2019, OctaFX – Ethereum price remains well supported in early Friday trade, with the second largest cryptocurrency by market capitalization trading close to major intraday support.
Ethereum price technical analysis
The daily time frame is showing that a large bullish inverted head and shoulders pattern is now present. If ETHUSD bulls can hold price above the $245.00 level the cryptocurrency could continue its recent breakout rally.
ETHUSD price is intraday bullish while trading above the $245.00 level, key resistance is found at the $280.00 and $330.00 levels.
If the ETHUSD pair trades below the $245.00 level, key support is found at the $230.00 and $210.00 levels.
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