Ethereum Price Mounts An Impressive Recovery As Market Mood Shifts
Summary
Ethereum has rebounded above $1,600 and is consolidating above $1,620 and the 100-hour moving average. Price broke a bearish trend line near $1,600 and moved above the 23.6% Fib retracement of the drop from $2,005 to $1,505, signaling improving momentum. Immediate resistance is near $1,700, with a key barrier at $1,750; a clear break above that could open the way to $1,800, then $1,885, and potentially $1,920 or $2,000. If ETH fails to clear $1,750, downside support sits near $1,650 and $1,620, with stronger support at $1,600, $1,550, and $1,500. Technical signals are mildly bullish, with MACD strengthening and RSI above 50.
