Ethereum Price Drops 6% and Signals Risk of Trend Change Below This Support

Ethereum Price Drops 6% and Signals Risk of Trend Change Below This Support


Ethereum started a downside correction below $1,600 against the US Dollar. ETH is down over 6% and remains at a risk of a drop below the $1,480 support.

Ethereum is showing a few bearish signs below the $1,600 and $1,580 levels. The price is now trading below $1,600 and the 100 hourly simple moving average. There is a key bearish trend line forming with resistance near $1,620 on the hourly chart of ETH/USD (data feed via Kraken). The pair could recover if it stays above the $1,500 and $1,480 support levels. Ethereum Price Trims Gains

Ethereum price failed to clear the $1,650 resistance zone. ETH corrected lower below the $1,620 and $1,600 level, similar to bitcoin. The decline gained pace below the 50%

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