Ethereum is under mild selling pressure as the top altcoins start to correct lower, following the early-week rally across the cryptocurrency market. A bullish inverted head and shoulders pattern remains valid and is projecting an eventual push towards the $440.00 area. ETHUSD bulls need to move the price above the $395.00 level to ignite the bullish reversal pattern.
The ETHUSD pair is only bullish while trading above the $370.00 level, key resistance is found at the $395.00 and the $415.00 levels.
If the ETHUSD pair trades below the $370.00, sellers may test the $365.00 and $350.00 support levels.