Ethereum Price Analysis: ETH/USD Could Extend Declines

Key HighlightsETH price was not able to move above the $510 resistance and is currently under pressure against the US Dollar.
There was a break below a crucial bullish trend line with support at $500 on the hourly chart of ETH/USD (data feed via Kraken).
The pair remains at a risk of more losses as long as it is below $510 and the 100 hourly simple moving average.Ethereum price is currently in a bearish zone against the US Dollar and Bitcoin. ETH/USD could decline further towards $475 level in t