Ethereum Price Analysis: Can ETH/USD Recover From $500?

Key HighlightsETH price declined further and tested the $500-510 support area against the US Dollar.
There is a major bearish trend line forming with resistance at $545 on the hourly chart of ETH/USD (data feed via Kraken).
The pair may correct a few points from the current levels, but upsides may be capped by $545-550.Ethereum price is struggling to recover against the US Dollar and Bitcoin. ETH/USD could consolidate around $520-545 for some time before the next move.
Ethereum Price Decline
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