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Ethereum is struggling to break through the $1,680 barrier against the US dollar. ETH is still risky to further declines below the $1,500 support level.From the $1,520 support level, Ethereum began a minor uptrend. <a href="https://www.coingabbar.com/en/crypto-currency/ethereum-eth-prices-usd" rel="noopener noreferrer nofollow">ETH has risen above the $1,550 and $1,600 levels.</a>The price even surpassed the $1,640 mark and the 100 hourly simple moving average. There was a break above the 23.6% Fib retracement level of the key decline from the $1,880 swing high to the $1,524 low. However, the bears were active above $1,680.On the hourly chart of ETH/USD, a key rising channel is forming with support near $1,605. The first immediate resistance is now forming near $1,680.A clear break above $1,680 could push the price towards the $1,720 resistance zone. It is close to the 50% Fib retracement of the key decline from the $1,880 swing high to the $1,524 low. The next major resistance is near $1,760, above which the price could rise and test the $1,820 level.If <a href="https://www.coingabbar.com/en/crypto-currency-news-english/cryptocurrency-popular-among-binance-users-ethereum-merger-2" rel="noopener noreferrer nofollow">ethereum fails to break through the $1,680 barrier</a>, it may continue to fall. On the downside, an initial support is near the $1,600 zone and the channel trend line.The next major support is near $1,545, below which the price of ether may begin to fall. In the given situation, the price could fall to around $1,500. Any further losses could open the door for a move towards the $1,450 level.KEY LEVELS :RESISTANCE LEVEL : $1680-$1730SUPPORT LEVEL : $1600-$1550

Cryptocurrency price update: ETHEREUM PRICE ANALYSIS : Bears hammers ETH near $1680, eyes near $1600

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