Ethereum Underperforms Bitcoin, Bulls Struggle To Protect Key Support

Ethereum price failed to start fresh increase above $1,600 against the US dollar. ETH is now struggling to stay above the $1,550 support zone.Ethereum extended its decline and tested the $1,550 support zone.
The price is trading just below $1,580 and the 100-hourly Simple Moving Average.
There is a connecting bearish trend line forming with resistance near $1,570 on the hourly chart of ETH/USD (data feed via Kraken).
The pair could accelerate lower if the bulls fail to protect the $1,550 support