Ethereum Price Analysis: Can ETH/USD Hold $555?

Key HighlightsETH price is holding the $550-555 support area and is currently consolidating against the US Dollar.
There is a short-term connecting bearish trend line forming with resistance at $570 on the hourly chart of ETH/USD (data feed via Kraken).
The pair is facing many important hurdles on the upside near $500, $605 and $612.Ethereum price is consolidating losses against the US Dollar and Bitcoin. ETH/USD must settle above the 100 hourly simple moving average and $605 for more upsides.
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