Ethereum Price Remains Vulnerable, Will ETH Fall Back To $1K?

Ethereum failed to clear the $1,300 resistance zone against the US Dollar. ETH is declining and there is a risk of a drop below the $1,265 support.

• Ethereum is still showing bearish signs 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 was a break below a key rising channel with support at $1,290 on the hourly chart of ETH/USD (data feed via Kraken).
• The pair remains at a risk of more losses unless there is a clear move above the $1,300 level.

Ethereum Price Remains In Downtrend

Ethereum started a minor upside correction from the $1,265 support zone.