Ethereum is starting to consolidate around the $600.00 level after finding strong technical resistance around the $620.00 level earlier this week. Dip-buyers may look to enter back into the prevailing bullish trend if an extended pullback towards the $540.00 area takes place. To the upside, medium-term analysis highlights the $640.00 level as a potential bullish target for the ETHUSD pair.
The ETHUSD pair is only bullish while trading above the $560.00 level, key resistance is found at the $620.00 and the $640.00 levels.
If the ETHUSD pair trades below the $560.00, sellers may test the $540.00 and $490.00 support levels.
