continues to trade sharply lower on Wednesday, with the second largest crypto by market capitalisation facing a technical meltdown below the $395 support level
. The ETHUSD
pair started to weaken after slipping below the $440 level on Tuesday, as the broader cryptocurrency started to decline. Heavy losses are expected if the ETHUSD
pair falls below the $395 level and triggers the bearish head and shoulders
pair is strongly bearish
while trading below the $395 level, key technical support below $395 is found at the $351 and $305 levels.
If the ETHUSD
pair moves back above the $440 level, buyers will likely test towards the $460 and $482 resistance levels.