Ethereum price started a fresh decline and traded below $2,350. ETH is now consolidating above $2,285 and might struggle to recover.
Ethereum started a downside correction from the $2,425 zone.
The price is trading below $2,365 and the 100-hourly Simple Moving Average.
There was a break below a bullish trend line with support at $2,340 on the hourly chart of ETH/USD (data feed via Kraken).
The pair could start a fresh increase if it stays above the $2,255 zone.
Ethereum Price Trims Gains
Ethereum price failed to remain stable above $2,385 and started a downside correction, underperforming Bitcoin. ETH price dipped below the $2,365 and $2,350 levels.
There was a break below a bullish trend line with support at $2,340 on the hourly chart of ETH/USD. The pair traded as low as $2,286 and is currently consolidating losses. There was a minor move above the 23.6% Fib retracement level of the downward move from the $2,423 swing high to the $2,286 low.
Ethereum price is now tradi
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