Ethereum has bounced back towards the $295.00 level after finding strong technical support from just above the $240.00 level.
The ETHUSD pair is expected to continue to move away from extremely oversold trading conditions, the MACD indicator across the four-hour time frame is also turning higher.
Buyers will look to break the $295.00 level, while sellers will attempt to hold price below the $250.00 area.
The ETHUSD pair remains bearish while trading below the $395.00 level, key technical support is now located at the $370.00 and $250.00 levels.
If the ETHUSD pair trades back above the $295.00 level, price may correct back towards the $311.00 and $330.00 resistance levels.