June 16 (Cointime) - Bears have taken control of the market following unsuccessful bullish attempts. Ethereum has experienced a greater loss than Bitcoin, dropping by 5.48%. The hourly chart shows Ethereum trading within a narrow channel between $1,628 and $1,655, with a potential breakout if the price is restored to at least $1,650.

In the midterm, if Ethereum breaks below the important zone of $1,600, a decline to the $1,400-$1,500 area is likely. At present, Ethereum is trading at $1,640.