Ethereum has tumbled to its lowest trading level since November 2017, as the SEC’s delayed decision on a Bitcoin ETF continues to cause widespread selling throughout the entire crypto market.
The ETHUSD pair is likely to experience further heavy technical selling while trading below the $351 level, which is the former yearly-low. The bearish head and shoulders pattern that Ethereum broke yesterday has a downside projection below $300.
The ETHUSD pair is strongly bearish while trading below the $351 level, key technical support is now located at the $330 and $300 levels.
If the ETHUSD pair trades back above the $351 level, buyers may test towards the $371 and $388 resistance levels.
The ETHUSD pair is likely to experience further heavy technical selling while trading below the $351 level, which is the former yearly-low. The bearish head and shoulders pattern that Ethereum broke yesterday has a downside projection below $300.
The ETHUSD pair is strongly bearish while trading below the $351 level, key technical support is now located at the $330 and $300 levels.
If the ETHUSD pair trades back above the $351 level, buyers may test towards the $371 and $388 resistance levels.
