Ethereum price is moving lower toward the $1,500 support against the US dollar. ETH could correct higher, but upsides might be limited above $1,565.
Ethereum Price Extends Losses
Ethereum remained in a bearish zone below the $1,580 resistance zone. ETH failed to stay above the key $1,550 support and extended its decline, unlike Bitcoin.
The price traded to a new weekly low at $1,521. It seems like the price is slowly moving lower after it settled below $1,600. There are also two bearish trend lines forming with resistance near $1,555 and $1,570 on the hourly chart of ETH/USD.
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