In relation to the US dollar, the price of ether is stumbling and falling from the $1,840 resistance level; it is currently trading below $1,750 and the 100 hourly simple moving average. On the hourly chart of ETH/USD, there is a break below a significant bullish trend line with support close to $1,765. If there is a clear move below the $720 support, the pair may decline even further.
Although resistance is present near $1,755 and the 23.6% Fib retracement level of the most recent decline, the price of Ethereum is currently trading below $1,750 and the 100 hourly simple moving average. The price may continue to decline if it fails to overcome the next significant resistance, which is located close to the $1,780 area.
Ethereum Price Grinds Lower and Turns At Risk of A Larger Decline
