Ethereum has rallied towards the $590.00 resistance level earlier today, marking the highest trading level for the ETHUSD pair since June 2018. Technical analysis shows that the ETHUSD pair has reached critical resistance and may start to retreat from current levels. Repeated failure to surpass the $590.00 resistance barrier could see the ETHUSD pair sold back towards the $490.00 level.
The ETHUSD pair is only bullish while trading above the $560.00 level, key resistance is found at the $590.00 and the $630.00 levels.
If the ETHUSD pair trades below the $560.00, sellers may test the $520.00 and $490.00 support levels.
