Ethereum price is eyeing a recovery wave from $1,565 against the US Dollar. ETH could rise steadily if it settles above $1,600 and $1,620.

• Ethereum is attempting a recovery wave above the $1,580 level.
• The price is trading above $1,590 and the 100-hourly Simple Moving Average.
• There was a break above a major bearish trend line with resistance near $1,590 on the hourly chart of ETH/USD (data feed via Kraken).
• The pair could start a recovery wave if there is a close above $1,600 and $1,620.

Ethereum Price Signals Recovery

Ethereum’s price remained well-bid above the $1,565 level. ETH seems to be forming a base above $1,565 and is slowly moving higher, like Bitcoin.

The price was able to recover above the $1,580 and $1,590 levels. There was a move above the 23.6% Fib …