Ethereum price started a pullback from the $2,680 resistance. ETH is now declining and remains at risk of more downsides if it fails to stay above $2,550.
Ethereum started a fresh decline below the $2,650 level.
The price is trading below $2,680 and the 100-hourly Simple Moving Average.
There is a key bullish trend line forming with support at $2,610 on the hourly chart of ETH/USD (data feed via Kraken).
The pair could extend losses if it drops below the $2,550 support zone.
Ethereum Price Shows Signs of Weakness
Ethereum price attempted to gain pace for a move above the $2,680 level. However, ETH failed to continue higher and started a fresh decline below $2,650 like Bitcoin.
There was a break below the 23.6% Fib retracement level of the upward move from the $2,514 swing low to the $2,682 high. The price even slipped below the 100-hourly Simple Moving Average. However, the bulls are now active near the $2,620 level.
Ethereum price is now trading below $2,650 and the 100-h
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