Ethereum Price Pauses Decline Above Crucial $1,500 Support Level

The Ethereum price has paused its decline above the $1,500 support level. For the past five days, Ether has been trading between $1,500 and $1,700.

On the downside, if the bears break below the $1,500 support, Ether will slide further to a low of $1,260. However, if the bears fail to break this current support level, the altcoin will continue to fluctuate above it.

If buyers overcome the initial $1,700 barrier, Ether's upward trend will resume. The cryptocurrency price has fallen below its moving average lines, indicating a downtrend.