NewsBTC9 minutes ago

Published on September 25, 2023 04:40 GMT+00:00edited on September 25, 2023 04:44 GMT+00:00

Ethereum price dropped further below $1,600 against the US Dollar. ETH is in the red zone and might dive toward the $1,500 support zone.

• Ethereum is gaining pace below the $1,600 support zone.
• The price is trading below $1,600 and the 100-hourly Simple Moving Average.
• There is a key bearish trend line forming with resistance near $1,600 on the hourly chart of ETH/USD (data feed via Kraken).
• The pair is struggling and might dive further toward the $1,500 support in the short term.

Ethereum Price Extends Losses

Ethereum’s price remained in a bearish zone below the $1,660 and $1,670 resistance levels. ETH declined below the $1,600 support level to move further enter a bearish zone, like Bitcoin.

The price even declined below the $1,580 level and settled below the 100-hourly …