Ethereum extended losses and traded below $1,100 against the US Dollar. ETH could accelerate lower if there is a close below $1,000. Ethereum started a fresh decline below the $1,120 and $1,100 levels. The price is now trading below $1,100 and the 100 hourly simple moving average. There is a major bearish trend line forming with resistance near $1,115 on the hourly chart of ETH/USD (data feed via Kraken). The pair could continue to decline if there is a close below the $1,000 level. Ethereum Price Extends Losses Ethereum remained in a bearish zone below the $1,150 support zone. ETH extended decline below the $1,120 and $1,100 levels. It opened the doors for more losses and the price even moved below $1,080. The price is now trading below $1,100 and the 100 hourly simple moving average. It traded as low as $1,033 and the price is now consolidating losses. An immediate resistance on the upside is near the $1,060 level. The first major resistance is near the $1,090 zone. The 23.6% Fib retracement level of the downward move from the $1,275 swing high to $1,033 low is also near the $1,090 level. Besides, there is a major bearish trend line forming with resistance near $1,115 on the hourly chart of ETH/USD. The trend line is near the 100 hourly simple moving average. Source: ETHUSD on TradingView.com The next key barrier is near the $1,150 level or the 50% Fib retracement level of the downward move from the $1,275 swing high to $1,0...
