Ethereum Price Analysis: ETH/USD Grinding Lower Below $110

Key HighlightsETH price found resistance near the $119-120 zone recently and declined against the US Dollar.
There is a major bearish trend line in place with resistance at $116 on the hourly chart of ETH/USD (data feed via Kraken).
The pair is likely to decline further below $110 as long as the price is below $116 and $120.Ethereum price remains in a bearish zone against the US Dollar and bitcoin. ETH/USD could test the $105 support area if sellers remain in action below $116.
Ethereum Price An