TA: Ethereum Key Indicators Suggest A Strengthening Case For More Losses

TA: Ethereum Key Indicators Suggest A Strengthening Case For More Losses


Ethereum declined sharply from the $1,655 resistance zone against the US Dollar. ETH is struggling and remains at a risk of more losses below the $1,450 level.

Ethereum started a fresh decline after it failed to clear the $1,650 resistance zone. The price is now trading below $1,550 and the 100 hourly simple moving average. There is a major bearish trend line forming with resistance near $1,610 on the hourly chart of ETH/USD (data feed via Kraken). The pair could accelerate further lower below the $1,450 support zone in the near term. Ethereum Price Starts Fresh Decline

Ethereum failed to gain strength for a move above the $1,650 and $1,660 resistance levels. ETH formed a top near the $1,653 level and started a

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