Ethereum price started a recovery wave above the $1,620 zone. ETH is now 
consolidating and struggling to continue higher above the $1,700 resistance. 
Ethereum started a recovery wave above the $1,620 zone. The price is trading 
below $1,680 and the 100-hourly Simple Moving Average. There was a break below 
a bullish trend line with support at $1,685 on the hourly chart of ETH/USD 
(data feed via Kraken). The pair could start a fresh decline if it stays below 
the $1,700 zone. Ethereum Price Fails To Extend Recovery Ethereum price 
started a recovery wave above the $1,520 zone, like Bitcoin. ETH price was 
able to surpass and settle above the $1,620 resistance. The price surpassed 
the 23.6% Fib retracement level of the downward move from the $2,005 swing 
high to the $1,505 swing low. However, the bears remained active near the 
$1,700 resistance. As a result, there was a fresh bearish reaction. Besides, 
there was a break below a bullish trend line with support at $1,685 on the 
hourly chart of ETH/USD. Ethereum price is now trading below $1,680 and the 
100-hourly Simple Moving Average. If the bulls remain in action above $1,650, 
the price could attempt another increase. Immediate resistance is seen near 
the $1,680 level. The first key resistance is near the $1,700 level. The next 
major resistance is near the $1,750 level or the 50% Fib retracement level of 
the downward move from the $2,005 swing high to the $1,505 swing low. A clear 
move above the $1,750 resistance might send the price toward the $1,800 
resistance. An upside break above the $1,800 region might call for more gains 
in the coming days. In the stated case, Ether could rise toward the $1,840 
resistance zone or even $1,880 in the near term. Downside Continuation In ETH? 
If Ethereum fails to clear the $1,700 resistance, it could start a fresh 
decline. Initial support on the downside is near the $1,650 level. The first 
major support sits near the $1,620 zone. A clear move below the $1,620 support 
might push the price toward the $1,580 support. Any more losses might send the 
price toward the $1,550 region. The main support could be $1,500. Technical 
Indicators Hourly MACD – The MACD for ETH/USD is gaining momentum in the 
bearish zone. Hourly RSI &#8211; The RSI for ETH/USD is now below the 50 zone. Major 
Support Level – $1,650 Major Resistance Level – $1,700

Ethereum price started a recovery wave above the $1,620 zone. ETH is now consolidating and struggling to continue higher above the $1,700 resistance. Ethereum started a recovery wave above the $1,620 zone. The price is trading below $1,680 and the 100-hourly Simple Moving Average. There was a break below a bullish trend line with support &#8230;

Ethereum Price Rebound Runs Out Of Fuel Near Key Resistance

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Ethereum Price Rebound Runs Out Of Fuel Near Key Resistance

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