Ethereum Price Analysis: ETH/USD Eyeing Break Above $254

Key HighlightsETH price is placed nicely above the $240 support area with positive signs against the US Dollar.
There is a new contracting triangle forming with support near $240 on the hourly chart of ETH/USD (data feed via Kraken).
The pair may well break the $247 and $250 resistance levels to trade to a new weekly high.Ethereum price is consolidating gains against the US Dollar and bitcoin. ETH/USD could trade higher once there is a break above the $250-254 zone.
Ethereum Price Analysis
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