Ethereum price is struggling to recover above the $1,700 resistance against the US Dollar. ETH could start a fresh decline if it stays below $1,700 and $1,720.

• Ethereum is struggling to recover above the $1,700 and $1,720 levels.
• The price is trading below $1,700 and the 100-hourly Simple Moving Average.
• There is a key bearish trend line forming with resistance near $1,680 on the hourly chart of ETH/USD (data feed via Kraken).
• The pair could start another decline if it stays below the $1,700 level in the near term.

Ethereum Price Consolidates Below $1,700

Ethereum’s price started a recovery wave from the $1,520 zone. ETH managed to recover above the $1,550 and $1,580 levels, similar to Bitcoin.

However, the price is struggling to recover above the $1,700 and $1,720 levels. …