Ethereum Price Analysis: ETH/USD Turned Bearish Below $285-290

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Key HighlightsETH price is under a lot of pressure as it broke the $290 and $285 supports against the US Dollar.There is a major bearish trend line in place with resistance at $282 on the hourly chart of ETH/USD (data feed via Kraken).The pair traded as low as $268 and it is currently correcting higher towards the $285-290 resistance.Ethereum price is under pressure against the US Dollar and bitcoin. ETH/USD broke key supports at $285, opening the doors for more losses.Ethereum Price DeclineThere was a sharp bearish reaction from the $307 swing high in ETH against the US Dollar. The ETH/USD pair started a crucial downside move and broke the $302 and $290 support levels. More importantly, there was a break and close below the $285 support and the 100 hourly simple moving average. The price even broke the $270 level to move into a bearish zone.A low was formed