Ethereum is consolidating losses above the $1,200 support against the US Dollar. ETH could start a steady increase if there is a clear move above the $1,300 resistance.
Ethereum is facing resistance near the $1,240 and $1,250 levels. The price is now trading below $1,240 and the 100 hourly simple moving average. There is a key bearish trend line forming with resistance near $1,240 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a decent increase if there is a clear move above $1,240 and $1,300. Ethereum Price Consolidates
Ethereum price declined from the $1,300 resistance zone but it remained well supported near $1,200, similar to bitcoin. ETH formed a base and recently started a fresh increase above