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Published on August 24, 2023 05:02 GMT+00:00edited on August 24, 2023 05:04 GMT+00:00

Ethereum price is recovering above the $1,650 resistance against the US Dollar. ETH could rise further if there is a clear move above the $1,700 resistance.

• Ethereum is moving higher above the $1,650 and $1,660 levels.
• The price is trading above $1,670 and the 100-hourly Simple Moving Average.
• There was a break above a key bearish trend line with resistance near $1,660 on the hourly chart of ETH/USD (data feed via Kraken).
• The pair could continue to rise if it clears the $1,700 and $1,720 resistance levels.

Ethereum Price Eyes Steady Recovery

Ethereum’s price formed a support base above the $1,580 and $1,600 levels. ETH started a recovery wave and was able to rise above the $1,650 resistance, like Bitcoin.

There was a break above a key bearish trend line with resistance …