Ethereum Price Consolidates Losses, Why 100 SMA Could Trigger Rally

Ethereum started a recovery wave above the $1,200 level against the US Dollar. ETH must clear $1,320 and the 100 hourly SMA to start a sustained upward move.Ethereum started a recovery wave above the $1,200 and $1,220 levels.
The price is now trading below $1,300 and the 100 hourly simple moving average.
There was a break above a major bearish trend line with resistance near $1,210 on the hourly chart of ETH/USD (data feed via Kraken).
The pair is now struggling to clear the $1,320 resistance an