Ethereum is coming under downside selling pressure towards the $1,800 support area as Bitcoin starts to slip lower in early-week trading. The Parabolic SAR indicator on the four-hour time frame is issuing a sell signal while the ETHUSD pair trades below the $1,830 area. The mentioned time frame also shows that a bearish head and shoulders pattern with a $200.00 downside projection will be activated if the price moves under the $1,720 level.
The ETHUSD pair is only bullish while trading above the $1,830 level, key resistance is found at the $1,850 and the $1,880 levels.
If the ETHUSD pair trades below the $1,830, sellers may test the $1,780 and $1,720 support levels.
