Ethereum Tumbles 8%: Here’s Key Support Turned Resistance For The Bulls

Ethereum started a sharp decline below the $265 and $260 support levels against the US Dollar. ETH even tumbled below $250 and it is currently correcting losses.Ethereum is down more than 8% and it even spiked below the $250 support against the US Dollar.
The price traded as low as $236 and it is currently recovering losses.
There is a major bearish trend line forming with resistance near $264 on the hourly chart of ETH/USD (data feed via Kraken).
Bitcoin price is also under pressure and it is t