Ethereum Price Analysis: ETH Remains A Sell Until It Breaks $120

ETH price tested the $119-120 resistance area and failed to gain strength against the US Dollar.
There is a short term declining channel formed with resistance near $118 on the hourly chart of ETH/USD (data feed via Kraken).
The pair is currently at a risk of more losses as long as it is trading below the $118 and $120 hurdles.Ethereum price failed to stay in the positive zone against the US Dollar and bitcoin. ETH/USD trimmed most its gains and it is likely heading towards the $114 support lev