Ethereum is repeatedly struggling with the $600.00 level, leaving plenty of scope for a healthy correction back towards the $500.00 area. Technical analysis shows that a sustained decline below the $560.00 level is required to encourage ETHUSD selling. Dip-buyers are likely to enter into the prevailing bullish trend as close to $500.00 as possible if a decline does occur.
The ETHUSD pair is only bullish while trading above the $560.00 level, key resistance is found at the $620.00 and the $6400.00 levels.
If the ETHUSD pair trades below the $560.00, sellers may test the $520.00 and $500.00 support levels.
