Ethereum attempt to hit the bullish market

Ethereum price is attempting a recovery wave from $1,565 against the US Dollar. ETH could struggle to recover above $1,600 and might resume its decline.

Ethereum is slowly moving higher toward the $1,600 resistance zone.
The price is trading below $1,600 and the 100-hourly Simple Moving Average.
There is a major bearish trend line forming with resistance near $1,595 on the hourly chart of ETH/USD (data feed via Kraken).
The pair could start a fresh decline if it fails to clear the $1,600 resistance zone.