Published on September 14, 2023 04:26 GMT+00:00edited on September 14, 2023 04:31 GMT+00:00

Ethereum price is slowly moving higher above $1,600 against the US Dollar. ETH could gain bullish momentum unless there is a nasty drop below $1,550.

• Ethereum is showing a few positive signs for a move above the $1,650 resistance.
• The price is trading above $1,600 and the 100-hourly Simple Moving Average.
• There was a break above a key bearish trend line with resistance near $1,610 on the hourly chart of ETH/USD (data feed via Kraken).
• The pair could start a decent increase if there is a close above $1,650 and $1,670.

Ethereum Price Shows Bullish Signs

Ethereum’s price remained well-supported above the $1,550 level. ETH climbed higher slowly above the $1,580 and $1,600 resistance levels, like Bitcoin.

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