ETHUSD Watching trendline resistance
Ethereum is attempting to recover higher during the European session after dropping towards the $1,700 support area earlier today. The Parabolic SAR indicator on the daily time frame is showing that a buy signal is still in place while the ETHUSD pair trades above the $1,500 level. An important rising trendline, which has been in place since the start of the year, offers key upcoming resistance, at $1,930.
The ETHUSD pair is only bullish while trading above the $1,700 level, key resistance is found at the $1,850 and the $1,930 levels.
If the ETHUSD pair trades below the $1,700, sellers may test the $1,600 and $1,500 support levels.