Ethereum has fallen under the $200.00 level as the entire cryptocurrency market comes under heavy downside selling pressure. The ETHUSD pair may become an attractive buy from current levels, given that the second largest cryptocurrency is technically oversold. Bulls moving in from current levels would need to move price back above the $220.00 level to steady market sentiment.
If the ETHUSD pair trades below the $200.00 level, key support is found at the $170.00 and $160.00 levels.
If the ETHUSD pair trades above the $200.00 level, key resistance is found at the $220.00 and $240.00 levels
