NewsBTC11 minutes ago

Published on September 06, 2023 04:14 GMT+00:00edited on September 06, 2023 04:19 GMT+00:00

Ethereum price is attempting a recovery wave above $1,620 against the US Dollar. ETH must settle above $1,650 to start a decent increase.

• Ethereum is slowly moving higher from the $1,600 support zone.
• The price is trading near $1,630 and the 100-hourly Simple Moving Average.
• There was a break above two bearish trend lines with resistance near $1,620 and $1,630 on the hourly chart of ETH/USD (data feed via Kraken).
• The pair could start a steady increase if there is a close above the $1,650 resistance.

Ethereum Price Holds Key Support

Ethereum’s price managed to stay above the $1,600 support zone. ETH price is forming a base and is currently attempting a recovery wave above $1,620, like Bitcoin.

There was a break above two bearish trend lines with resistance near $1,620 and …