Ethereum Price Faces Resistance Amid Decline
- Ethereum price began a downside correction from $1,720.
- ETH is trading below the $1,665 level and the 100-hourly Simple Moving Average.
- A break occurred below a bullish trend line with support at $1,700 on the hourly chart of ETH/USD.
- Immediate resistance is near the $1,665 level, with major resistance at $1,710.
- Key support levels are identified at $1,610 and $1,585 zones.
Ethereum’s price decline continued as it failed to maintain above the critical $1,700 zone. The bearish momentum pushed ETH below key support levels on its hourly chart.
The Ethereum price struggles to regain upward momentum unless it clears significant resistance levels like $1,710 while maintaining support above $1,610 to avert further declines. (Source)
