Ethereum Price Analysis: ETH/USD Remains at Risk of More Declines

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Key HighlightsETH price recovered a few points after trading as low as $304.26 against the US Dollar.There is a major bearish trend line in place with resistance at $320 on the hourly chart of ETH/USD (data feed via Kraken).The pair is struggling to move above the $320 and $328 resistance levels, and it remains at a risk below $310.Ethereum price remains in a downtrend against the US Dollar and bitcoin. ETH/USD must clear the $320 and $330 resistance levels to recover towards $355.Ethereum Price TrendThere were heavy declines below $348-350 in Ethereum price this past week against the US Dollar. The ETH/USD pair traded as low as $304.26 and is currently consolidating losses with a few positive moves. It traded above the $315 level and spiked above $325. There was also a break above the 23.6% Fib retracement level of the last decline from the $363.03 high to $304.26 low.However,