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.