Ethereum Price Analysis: ETH Retreats Lower, Dips Remain Supported

[Btceth01]

Ethereum price traded to a new all-time high at $1,478 before correcting lower against the US Dollar.
ETH price is currently testing the $1,330 support and the 55 simple moving average (4-hours).
There is a key bullish trend line forming with support near $1,200 on the 4-hours chart (data feed from Coinbase).
The pair could eye a fresh increase above the $1,400 and $1,450 resistance levels.
Ethereum price is trading in a bullish zone above $1,200 against the US Dollar. ETH/USD is likely to make another attempt to test the $1,500 level in the coming sessions.
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