Ethereum Price Technical Analysis – ETH/USD Struggling Near $780

Key HighlightsETH price after declining further, formed a low at $553 and started an upside recovery against the US Dollar.
There is a major bearish trend line forming with resistance at $780 on the hourly chart of ETH/USD (data feed via SimpleFX).
The pair is struggling to break the $780 resistance level and it is currently below the 100 hourly simple moving average.Ethereum price recovery remains limited against the US Dollar and Bitcoin. ETH/USD is facing a lot of sell offers near the $780-80