Ethereum Price Plunge To $1,150 On The Horizon As Bulls Show Weak Hands

Ethereum declined below the $1,300 support against the US Dollar. ETH is showing bearish signs and there is a risk of a more losses towards $1,200 or even $1,150.

• Ethereum started a fresh decline below the $1,350 and $1,320 support levels.
• The price is now trading below $1,300 and the 100 hourly simple moving average.
• There is a key bearish trend line forming with resistance near $1,285 on the hourly chart of ETH/USD (data feed via Kraken).
• The pair could continue to move down if it stays below the $1,300 pivot level.

Ethereum Price Dips Below Key Support

Ethereum struggled to recover above the $1,340 and $1,350 resistance lev