Ethereum has started the new trading month poorly, with the second largest cryptocurrency slipping below the $300.00 support level. The four-hour time frame shows that a break under the $280.00 level exposes losses until at least the $265.00 level. Overall, a sustained move under the $265.00 level could trigger a much deeper bearish correction for the ETHUSD pair.
The ETHUSD pair is only bullish while trading above the $300.00 level, key resistance is found at the $316.00 and $325.00 levels.
If the ETHUSD pair trades below the $300.00 level, key support is found at the $280.00 and $265.00 levels.
