Buyers failed to regain 300.000 last week. After spending a few days struggling with the level, the Ethereum abandoned its recent highs and moved to 280.000. The spot found fresh offers in this area and dropped to the 275.000 region. The moving averages are still declining. MACD is staying in the negative area. RSI is consolidating within oversold area. The resistance stands at 300.000, the support is at 275.000.
We believe that sellers will attack 275.000 in the short-term. A successful move below this level may lead to a sell-off towards 250.000.