Ethereum failed to stay above $1,650 and extended losses against the US Dollar. ETH might continue to move down towards the $1,500 support zone.
- Ethereum started a downside correction after it settled below the $1,700 level.
- The price is now trading below $1,650 and the 100 hourly simple moving average.
- There was a break below a declining channel with support near $1,610 on the hourly chart of ETH/USD (data feed via Kraken).
- The pair could continue to move down towards the $1,550 support…
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