Ethereum has staged a solid bounce after falling towards the $1,670 support area, following a sudden drop in the price of Bitcoin. Traders that are bullish towards the ETHUSD pair may have used the latest pullback as a chance to position for a coming rally towards $2,000. Any sustained weakness below the $1,670 support level and the ETHUSD pair could test back towards $1,500.
The ETHUSD pair is only bullish while trading above the $1,700 level, key resistance is found at the $1,900 and the $2,000 levels.
If the ETHUSD pair trades below the $1,700, sellers may test the $1,600 and $1,500 support levels.
