Ethereum Price Consolidates, ETH Indicators Suggest Upside Break

Ethereum started a recovery wave above the $1,240 level against the US Dollar. ETH could gain bullish momentum once it clears the $1,280 and $1,300 resistance levels.Ethereum started a recovery wave above the $1,220 and $1,240 levels.
The price is now trading near $1,260 and the 100 hourly simple moving average.
There is a key bearish trend line forming with resistance near $1,275 on the hourly chart of ETH/USD (data feed via Kraken).
The pair must settle above the $1,300 resistance to start a d