Further consolidation in ETHUSD likely

After the huge move ETHUSD had this year, it's showing signs of weakness holding the 300s, both by price action and by RSI in the 4 hours chart. It's also curling back down under the EMA20 and while it may test the MA50 once more here , I think a 3rd test of the 300 psychological and evidenced support level is likely coming within a week or so. If it fails this time, 250s are in sight - where it goes from there would largely depend on overall cryptocurrency sentiment at the time.

For cryptocurrencies you can buy outright with relative ease using USD, such as Bitcoin , Ethereum and Litecoin, I think these round levels become very important, similar to many stocks - i.e., the resistance for ETHUSD at 400. And while I do have a long bias view, might as well trade the levels and find good entry points if you're an investor long term.
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