Ethereum has turned bearish over the short-term horizon, following a major reversal below the pivotal $395.00 technical area. Lower time frame analysis shows that the ETHUSD bearish has negative RSI divergence and may drop towards the $300.00 support area. Traders that are bullish towards Ethereum may look to enter back into the recent pullback, in anticipation of a powerful counter rally.
The ETHUSD pair is only bullish while trading above the $395.00 level, key resistance is found at the $445.00 and the $480.00 levels.
If the ETHUSD pair trades below the $395.00, sellers may test the $320.00 and $290.00 support levels.
