Ethereum Price Analysis: ETH/USD’s Failure Near $300 Explained

Key HighlightsETH price traded higher, but it failed to hold gains above $300 against the US Dollar.There is a major bearish trend line capping gains with current resistance at $299 on the hourly chart of ETH/USD (data feed via Kraken).The pair may dip a few points and it could test the $273 and $271 support levels.Ethereum price failed to hold gains against the US Dollar and bitcoin. ETH/USD buyers did not succeed in clearing a strong sell zone near $300 and the 100 hourly SMA.Ethereum Price ResistanceYesterday, there was a short-term correction initiated above the $260 level in ETH price against the US Dollar. The ETH/USD pair traded above the $275 and $285 levels to gain traction. There was also a break above the 50% Fib retracement level of the last downside move from the $332 high to $249 low. The price spiked above the $300 level, but it failed

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