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  • Ethereum is trading 1% lower after the crypto rout yesterday.
  • The chart has made a double top pattern but we need to wait for confirmation.

ETH/USD 4-Hour Chart

On the chart below the 290.00 level was strongly rejected.

This happened on two occasions and now we would need to wait for 236.67 to break for confirmation.

The market is some way away at the moment and could go back to retest the highs.

Bearishness would be confirmed if the support level breaks lower.

Beyond that, the next support is the psychological 200.00 level.

Ethereum

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