Ethereum Price Analysis: ETH/USD Nosedives Below $690

Key HighlightsETH price started a sharp downside move and traded below the $700 and $690 supports against the US Dollar.
This week’s highlighted key bullish trend line with support at $725 was broken on the hourly chart of ETH/USD (data feed via Kraken).
The pair is now back in a short-term bearish zone and it could retest the $660 support.Ethereum price nosedived against the US Dollar and Bitcoin. ETH/USD is currently trading well below the $700 level and it moved into a bearish zone.
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