Ethereum price failed to reclaim $1,750 and trimmed all gains against the US Dollar. ETH could accelerate lower if it breaks the $1,630 support.

• Ethereum started a fresh decline below the $1,700 level.
• 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 $1,690 on the hourly chart of ETH/USD (data feed via Kraken).
• The pair could extend its decline if there is a close below the $1,630 support.

Ethereum Price Trimmed Gains

Ethereum’s price failed to settle above the $1,700 level. ETH started a fresh decline and gained bearish momentum below the $1,700 level, like Bitcoin.

There was a clear move below the $1,665 level and the price spiked below the $1,640 level. It tested the $1,630 support …