Ethereum’s price managed to stay above the $1,840 support. ETH formed a base and recently started a recovery wave from the $1,838 low, similar to Bitcoin. There was a break above the $1,870 resistance level. The price climbed above the 23.6% Fib retracement level of the downward move from the $1,916 swing high to the $1,838 low. Besides, there was a break above a key bearish trend line with resistance near $1,870 on the hourly chart of ETH/USD. Ether is now trading above $1,870 and the 100-hourly Simple Moving Average. There are also chances of a short-term inverse head and shoulders pattern on the same chart. ... (full story)