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…
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