Ethereum Price Avoids Collapse But Recovery Could Be Capped

Ethereum price managed to recover from the $1,520 level against the US dollar. ETH is now facing hurdles near the $1,565 and $1,600 resistance levels.Ethereum is attempting a recovery wave above the $1,550 level.
The price is trading just above $1,550 and the 100-hourly Simple Moving Average.
There was a break above a major bearish trend line with resistance near $1,555 on the hourly chart of ETH/USD (data feed via Kraken).
The pair could start another decline unless there is a clear move above