Ethereum undertone remained negative on Monday. A fresh wave of Ethereum selling interest emerged during early European session and the coin dropped to the 285.000 area from where it pulled back to the 295.000 region. Sellers tightened their grip in the Asian session and sent the rate to the 250.000. The moving averages are heading lower. MACD decreased which confirms the strength of sellers. RSI remained in the oversold readings. The resistance stands at 275.000, the support is at 250.000.
The 250.000 handle needs to be broken to talk about a bearish continuation towards 225.000.