Ethereum is coming under slight downside pressure after the second largest cryptocurrency by market capitalization failed to break the May trading high. The bearish pattern on the four-hour time frame has yet to be invalidated, leaving the ETHUSD pair vulnerable to more losses. Overall the next strong directional move is unlikely to occur until the $230.00 to $280.00 price range is broken.
The ETHUSD pair is bullish while trading above the $260.00 level, key resistance is found at the $280.00 and $320.00 levels.
If the ETHUSD pair trades below the $260.00 level, key support is found at the $230.00 and $205.00 levels.
