Ethereum Price Analysis: ETH/USD Back Below $600

Key HighlightsETH price nosedived below $620 after it struggled to move above the $650 resistance against the US Dollar.
There are two bearish trend lines forming with resistances at $610 and $655 on the hourly chart of ETH/USD (data feed via Kraken).
The pair is currently consolidating losses above $650 and it remains at a risk of more losses.Ethereum price fell sharply against the US Dollar and Bitcoin. ETH/USD settled below the $600 support and it may continue to decline in the near term.
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