ETHUSD bullish above $126.00 level

Ethereum is attempting to recover higher in early Wednesday trading, after finding strong weekly technical resistance from the $158.00 level. The ETHUSD pair still retains an intraday bullish bias while trading above the $126.00 level, which represents neckline support from an inverse head and shoulders pattern. If buyers can surpass the $142.00 level, a further test of the $158.00 level appears possible.

The ETHUSD pair is bullish while trading above the $126.00 level, key resistance is now found at the $142.00 and $158.00 levels.

If ETHUSD pair falls below the $126.00 level, sellers may test the $120.00 and $100.00 levels.