Ethereum pushed past $1,600 resistance on Sunday, breaking a bearish trend line on the hourly chart and reigniting hopes of a sustained recovery. The second-largest cryptocurrency is now trading above $1,620 and the 100-hourly Simple Moving Average, with momentum indicators flipping bullish.
Ethereum clears $1,600 barrier
ETH climbed above the $1,600 mark after consolidating for several days. The move also saw it surpass the 23.6% Fibonacci retracement level of the wider downturn from $2,005 to $1,505 — a technical milestone that suggests the immediate selling pressure has eased. Buyers stepped in near $1,550 and have pushed the price steadily higher since the start of the week.
Bullish signals from MACD and RSI
The hourly MACD is now gaining momentum in positive territory, and the Relative Strength Index sits above 50 — both classic signs that bullish momentum is building. The price holding above the 100-hourly SMA adds another layer of support for the near-term outlook. It's not a full reversal yet, but the setup is the most constructive Ethereum has seen in weeks.
Next targets: $1,750 and beyond
With $1,600 reclaimed, traders are eyeing the next major hurdle at $1,750, which coincides with the 50% Fibonacci retracement of the $2,005–$1,505 decline. A move above that could open the door to $1,800 and then $1,885. A close above $1,885 would put $1,920 and eventually $2,000 back in play — levels not seen since mid-May.
Downside risks below $1,620
For now, support sits at $1,620 and $1,600. If Ethereum slips back under $1,600, the next floor is around $1,550, with a deeper drop testing $1,500. The bulls need to hold $1,620 to keep the recovery intact. The week ahead will show whether this breakout has legs or is just another fakeout in a choppy market.
