Ethereum is on the rise alongside Bitcoin on Friday, as the ETHUSD pair attempts to recover yesterday’s heavy downside losses. Technical analysis shows that a bearish head and shoulders pattern remains activated while the price trades below the $510.00 level. Continued gains above the $510.00 level could see the ETHUSD pair bounce back towards the $580.00 resistance level.
The ETHUSD pair is only bullish while trading above the $510.00 level, key resistance is found at the $550.00 and the $580.00 levels.
If the ETHUSD pair trades below the $510.00, sellers may test the $480.00 and $460.00 support levels.
