Ethereum Price Grinds Lower But Key Support Is Still Intact

Ethereum price corrected lower from the $1,670 resistance against the US Dollar. ETH could take a major hit if it breaks the $1,600 support.Ethereum started a bearish wave from the $1,660 resistance.
The price is trading below $1,640 and the 100-hourly Simple Moving Average.
There is a key bearish trend line forming with resistance near $1,640 on the hourly chart of ETH/USD (data feed via Kraken).
The pair must stay above the $1,600 support zone to start another increase in the short term.Ethere