Ethereum Price Analysis: ETH Could Decline Significantly Below $200

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Ethereum price topped near the $240 resistance and declined towards $200 against the US Dollar. ETH price is currently correcting losses, but it is facing hurdles near $215 and $216. There is a major bearish trend line forming with resistance near $212 on the 4-hours chart (data feed from Coinbase). The price remains at a risk of a strong decline if it breaks the $200 support area. Ethereum price is trading in a downtrend below $215 and $220 against the US Dollar. ETH price might start a decent recovery as long as it is above the $200 support. Ethereum Price Analysis This past week, Ethereum price failed to surpass the $240 resistance against the US Dollar. The ETH/USD pair topped near the $239 level and later started a strong downward move. It broke the $230 support level to enter a bearish zone. Moreover, there was a break below the $220…

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