The first sign of bullishness will be a breakout and close (UTC time frame) above $250. Such a move will attract buyers and can carry the ETH/USD pair to the next level of $322.57.
On the downside, a break of the $200 level could plunge the virtual currency to the Sept. 12 low of $167.32, below which the downtrend will resume.
We do not find any reliable buy setups at the current level; hence, we are not recommending a trade on it.