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After Ethereum failed to reach $1,700, it started a sharp decline against the dollar. ETH fell more than 8% and fell below the $1,540 support level.<a href="https://www.coingabbar.com/en/crypto-currency/ethereum-eth-prices-usd" rel="noopener noreferrer nofollow">Ethereum</a> has broken over the resistance levels of $1,620 and $1,650. However, ETH failed to break through the $1,700 resistance level. A high was made at $1,686 and a sharp bearish wave followed, similar to bitcoin.The price fell below the resistance levels of $1,620 and $1,600. On the hourly chart of ETH/USD, there was a break below a strong bullish trend line with support at $1,570. The pair also broke over the $1,540 support level as well as the 100 hourly simple moving average.Ether’s price has fallen below $1,500, reaching a low of $1,490. It is currently accumulating losses above the $1,500 barrier.According to<a href="https://www.coingabbar.com/en/price-analysis" rel="noopener noreferrer nofollow"> price analysis</a>, Ethereum’s performance has declined in recent hours. According to the most recent data, it has lost 8.50% in the previous 24 hours. ETH is now trading in the $1,520 range. This coin’s market cap is estimated to be $185,237,671,307. The same coin’s 24-hour trading volume is around $21,667,936,608.The first major resistance is located at $1550. The next major barrier is located at $1,590. Any more gains might open the door for a move towards the $1,620 resistance in the near term. Above $1600, ETH faces serious resistance at the $1700 level.If ethereum fails to break through the $1,540 resistance level, it may continue to fall. On the downside, initial support is at $1,500. The next major support level is at $1,480. A closing below $1,480 might push the price of ether around $1,420. Any further losses might push the price down to $1,350.KEY LEVELS :RESISTANCE LEVEL : $1560-$1620SUPPORT LEVEL : $1480-$1420Get more cryptocurrency related updates on :-<a href="https://www.coingabbar.com/en/crypto-news-english" rel="noopener noreferrer nofollow"> https://www.coingabbar.com/en/crypto-news-english</a>

Cryptocurrency price update: ETHEREUM PRICE ANALYSIS : Will the Head and Shoulders pattern cause the price of ETH to fall?

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