The ETHUSD pair has reversed sharply from the $670.00 resistance zone due to the BTCUSD pair suffering a heavy drop yesterday. A rising price channel on the lower time frames is warning that Ethereum could suffer more losses towards the $570.00 support zone. Traders may attempt to buy the ETHUSD pair around the $570.00 area if an extended price decline below the $600.00 level takes place.
The ETHUSD pair is only bullish while trading above the $630.00 level, key resistance is found at the $670.00 and the $700.00 levels.
If the ETHUSD pair trades below the $630.00, sellers may test the $570.00 and $530.00 support levels.
