Ethereum started a decent recovery wave above $1,180 against the US Dollar. ETH could start a fresh decline if it stays below the $1,250 resistance.
Ethereum struggled to gain pace for a move above the $1,230 resistance level. The price is now trading above $1,170 and the 100 hourly simple moving average. There is a short-term bullish flag forming with resistance near $1,200 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a fresh decline if there is no clear move above $1,230 and $1,250. Ethereum Price Faces Rejection
Ethereum price started a recovery wave above the $1,150 resistance, similar to bitcoin. ETH even climbed above the $1,200 resistance and settled above the 100 hourly simple moving average.