Ethereum corrected lower sharply and tested $1,500 against the US Dollar. ETH started a fresh increase and is now trading above the $1,600 pivot level.
Ethereum is gaining pace above the $1,580 and $1,600 levels. The price is now trading above $1,600 and the 100 hourly simple moving average. There was a break above a major bearish trend line with resistance near $1,615 on the hourly chart of ETH/USD (data feed via Kraken). The pair could rise further if it stays above the $1,600 and $1,580 support levels. Ethereum Price Restarts Increase
Ethereum price started a sharp downside correction below the $1,600 level. ETH even declined below the $1,550 support zone and the 100 hourly simple moving average.
However, the bulls were active