1. There is a major bearish trend line forming with resistance near $1,660 on the hourly chart of ETH/USDT 2. If Ethereum fails to rise above the $1,670 resistance, it could start another decline. 3. An initial support on the downside is near the $1,620 zone. 4. The next major support is near $1,560, below which there is a risk of a sharp decline. 5. In the stated case, ether price may perhaps decline towards the $1,505 support in the near term. 6. Any more losses might call for a test of the $1,450 level.