Ethereum price is facing many hurdles below the $1,700 resistance against the US Dollar. ETH could extend its decline below the $1,580 and $1,550 levels.

• Ethereum is still struggling to recover above the $1,700 and $1,720 levels.
• The price is trading below $1,680 and the 100-hourly Simple Moving Average.
• There is a major bearish trend line forming with resistance near $1,665 on the hourly chart of ETH/USD (data feed via Kraken).
• The pair could start another decline if it breaks the $1,580 support in the near term.

Ethereum Price Faces Uphill Task

Ethereum’s price failed to climb above the $1,700 resistance zone. ETH started a fresh decline below the $1,650 and $1,620 levels, similar to Bitcoin.

The price even spiked below the $1,600 support and tested $1,580. A low was …