ETHUSD $238.00 NEEDED

Ethereum is attempting to gain traction above the $220.00 level on Tuesday after finding strong technical support above the $200.00 support level last week. Bulls need to anchor the ETHUSD pair above the $238.00 level to encourage the notion that the downside correction is over. Rejection from the $238.00 level will be considered extremely bearish for the ETHUSD pair.

• The ETHUSD pair is only bullish while trading above the $238.00 level, key resistance is found at the $255.00 and the $275.00 levels.

• If the ETHUSD pair trades below the $238.00, sellers may test the $215.00 and $200.00 support levels.