Ethereum is starting to recover alongside the broader cryptocurrency market after setting a four-week low, around the $1,287 level. Bulls may test towards a key trendline breakout on the four-hour time frame, around the $1,620 level if the short-term upside momentum continues. Additionally, the Parabolic SAR indicator shows that the four-hour trend will turn bullish above the $1,620 level.
The ETHUSD pair is only bullish while trading above the $1,620 level, key resistance is found at the $1,650 and the $1,770 levels.
If the ETHUSD pair trades below the $1,620, sellers may test the $1,287 and $1,050 support levels.
