Ethereum is struggling to find a meaningful short-term price trend, following multiple technical rejections from the $400.00 resistance level. Lower time frame analysis currently shows that the ETHUSD pair is trapped within a symmetrical triangle pattern between the $400.00 and $370.00 level. A breakout above the $400.00 level could provoke a powerful rally in the ETHUSD pair towards the $430.00 area.
The ETHUSD pair is only bullish while trading above the $370.00 level, key resistance is found at the $400.00 and the $430.00 levels.
If the ETHUSD pair trades below the $370.00, sellers may test the $340.00 and $320.00 support levels.
