In terms of the US dollar, Ethereum is consolidating above $1,550. If there is a clear move above the $1,620 resistance zone, ETH may rally.
<a href="https://www.coingabbar.com/en/crypto-currency/ethereum-eth-prices-usd" rel="noopener noreferrer nofollow">Ethereum</a> attempted to gain power above the $1,620 barrier and the 100 hourly simple moving average. However, ETH failed to maintain stability over $1,620.
The price trimmed gains after reaching a high of $1,648. There was a decline below $1,580 and $1,550. A low has been created near $1,535 and the price is now increasing. The price increased above the $1,550 resistance level. The price of ether cleared the 23.6% Fib retracement level of the current decline from the $1,648 swing high to the $1,535 low.
It is now trading above the $1,550 level as well as the 100 hourly simple moving average. On the hourly chart of ETH/USD, a key bullish trend line is forming with support near $1,560.
On the upside, an immediate resistance is at $1,600. It is close to the 50% Fib retracement level of the recent slide from the swing high of $1,648 to the low of $1,535. The next major resistance level is presently forming near $1,620.
According to price analysis, A clear move above $1,650 might push the price above $1,650 resistance. Any further advances could open the door for a move towards the $1,700 resistance in the near term.
If ethereum fails to break through the $1,600 barrier, it may fall further. The 100 hourly SMA and the $1,560 zone provide initial support on the downside.
The next key support is near $1,535, below which the price of ether could fall to $1,500. Any further losses may force a short-term move to $1,420.
KEY LEVELS :
RESISTANCE LEVEL : $1600-$1650
SUPPORT LEVEL : $1520-$1450
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Cryptocurrency price update: ETHEREUM PRICE ANALYSIS : ETH fails to cross the bearish channel line, indicating that selling pressure is on the way

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