Description
⋅ Ethereum, the second largest cryptocurrency by market capitalisation is back under selling pressure and has broken below the key $440 support level.
The ETHUSD pair saw a rapid decline from the $475 level, as the broader cryptocurrency market tumbled lower on Tuesday.
Sellers will now look to build on the recent move lower and test the $405 support level, while buyers will look to reclaim the key $440 level.
The ETHUSD pair is strongly bearish while trading below the $440 level, further losses towards the $405 and $395 levels seems possible.
If the ETHUSD pair moves above the $440 level, buyers may move price back towards the $451 and $458 resistance levels.