ETH price failed to recover and it recently declined below the $214 support against the US Dollar.
There is a key declining channel in place with resistance at $212 on the hourly chart of ETH/USD (data feed via Kraken).
The pair is currently under pressure and it could decline towards the $206 support area.
Ethereum price declined further against the US Dollar and bitcoin. ETH/USD is slowly declining towards a significant support area near $206.
Ethereum Price Analysis
During the past few sessions, there was a slow and steady decline below the $216 support
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