Ethereum is coming under renewed selling pressure on Wednesday, with the second largest cryptocurrency by market capitalization giving back last weeks trading gains. The ETHUSD pair has recently looked weak above the $200.00 and struggled to regain bullish momentum.
A clear breach of the $199.44 level is likely to provoke technical selling, while the $215.00 level is the key upside level buyers need to break.
If the ETHUSD pair trades below the $199.40 level, sellers are likely to test towards the $191.10 and $182.00 support levels.
The ETHUSD pair is only intraday bullish above the $215.00 level, key resistance is found at the $220.00 and $240.00 levels.