NewsBTC12 minutes ago

Published on August 28, 2023 04:30 GMT+00:00edited on August 28, 2023 04:34 GMT+00:00

Ethereum price is struggling to clear the $1,670 resistance against the US Dollar. ETH could start another decline if it breaks the $1,640 support.

• Ethereum is struggling to rise above the $1,660 and $1,670 levels.
• The price is trading below $1,660 and the 100-hourly Simple Moving Average.
• There is a key bearish trend line forming with resistance near $1,660 on the hourly chart of ETH/USD (data feed via Kraken).
• The pair could start another decline if it stays below $1,670 for a few more sessions.

Ethereum Price Turns At Risk

Ethereum’s price started a recovery wave above the $1,640 level. However, ETH price seems to be struggling to rise above the $1,660 and $1,670 levels, like Bitcoin.

It is now showing bearish signs below the $1,670 level but also holding the 50% Fib …