Ethereum has bounced sharply from the $1,245 level, placing the $1,400 resistance level back in focus for ETHUSD bulls in the short-term. Traders that are bearish towards the ETHUSD pair may look to sell the cryptocurrency if the price reaches the $1,400 level. Bulls need to trade carefully as the ETHUSD pair has been prone to strong corrections from the $1,400 resistance area.
The ETHUSD pair is only bullish while trading above the $1,340 level, key resistance is found at the $1,400 and the $1,440 levels.
If the ETHUSD pair trades below the $1,340, sellers may test the $1,240 and $1,100.00 support levels.
