Ethereum incurred a heavy technical correction after hitting new multi-year trading, at $1,300, following a $4,000 dive in the BTCUSD pair. Technical analysis continues to highlight the $1,420 level as a potential upside target for the ETHUSD pair in the near-term. More conservative traders may await a strong technical correction towards the $870.00 area before initiating fresh buy positions.
The ETHUSD pair is only bullish while trading above the $1,000 level, key resistance is found at the $1,300 and the $1,400 levels.
If the ETHUSD pair trades below the $1,000, sellers may test the $950.00 and $870.00 support levels.
