Ethereum Price Technical Analysis – ETH/USD Bearish Below $1100

Key HighlightsETH price declined sharply and traded below the $1100 and $1000 support levels against the US Dollar.
There is a new connecting bearish trend line forming with resistance at $1060 on the hourly chart of ETH/USD (data feed via SimpleFX).
The pair is currently under a lot of bearish pressure and it could remain below the $1100 level.Ethereum price made a sharp U-turn against the US Dollar and Bitcoin. ETH/USD is recovering, but it is struggling to break the $1100 resistance.
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