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

• Ethereum is attempting a recovery wave above the $1,600 level.
• The price is trading above $1,600 and the 100-hourly Simple Moving Average.
• There is a key bullish trend line forming with support near $1,600 on the hourly chart of ETH/USD (data feed via Kraken).
• The pair could start a decent increase if there is a close above $1,620 and $1,650.

Ethereum Price Holds Ground

Ethereum’s price remained well-supported above the $1,580 level. ETH formed a base above $1,600 and recently moved a few points higher, like Bitcoin.

There was a move above the $1,620 level but upsides were limited. A high was formed near $1,633 before there …