Ethereum Price Analysis: ETH/USD’s Support Turned Resistance

Key HighlightsETH price failed to recover further and declined below the $690 support against the US Dollar.
There was a break below an ascending channel with support at $690 on the hourly chart of ETH/USD (data feed via Kraken).
The pair traded as low as $656 and it is currently correcting losses towards $680.Ethereum price is under pressure against the US Dollar and Bitcoin. ETH/USD is now well below $700 and it remains at a risk of more losses.
Ethereum Price Resistance
Yesterday, there was a