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Published on October 04, 2023 04:48 GMT+00:00edited on October 04, 2023 04:49 GMT+00:00

Ethereum price trimmed all gains and revisited $1,580 against the US dollar. ETH could continue to move down if it settles below the $1,600 support.

• Ethereum started a fresh decline below the $1,650 support.
• The price is trading below $1,665 and the 100-hourly Simple Moving Average.
• There is a key bearish trend line forming with resistance near $1,645 on the hourly chart of ETH/USD (data feed via Kraken).
• The pair could start a fresh increase if it clears the $1,650 and $1,665 resistance levels.

Ethereum Price Revisits Support

Ethereum’s price failed to stay above the $1,665 level and moved into a bearish zone. ETH extended its decline below the $1,650 level, like Bitcoin.

The decline was such that the price even spiked below the $1,600 on Kraken. The price retested the key …