Hello, welcome to this ETHEREUM /USD update by CRYPTO SANDERS.

CHART ANALYSIS:-Ethereum (ETH) also edged lower to start the week, as sentiment shifted following a breakout of the $1,600 level

ETH/USD slipped to a bottom of $1,582.18 earlier in the day, as bulls were unable to sustain Sunday’s high at $1,653.73.

Yesterday’s peak saw the world’s second-largest cryptocurrency climb to its strongest point in one week, however, traders used this as an ideal moment to secure recent gains.

The move saw ethereum marginally break out above a ceiling at $1,650, however bearish sentiment around this mark has reigned supreme over the last three months.

A breakout below a floor of 60.00 on the RSI also contributed to the decline, with the index now tracking at 58.40.

In the event today’s decline continues in the coming days, it is possible that ETH could be heading towards a floor at $1,550.

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