Ethereum Price Analysis: ETH/USD Holding Key Support

Key HighlightsETH price is struggling to break the $585-587 resistance area against the US Dollar.
Yesterday’s highlighted major bullish trend line is intact with support at $565 on the hourly chart of ETH/USD (data feed via Kraken).
The pair must stay above the $565 support and the 100 hourly simple moving average to avoid a downside reaction.Ethereum price is consolidating in a range against the US Dollar and Bitcoin. ETH/USD should not break the 100 hourly SMA to stay in a bullish zone.