Ethereum Price Holds Strong at $1,250: A Strengthening Case for Upside

Ethereum spiked above the $1,300 resistance zone against the US Dollar. ETH is correcting gains, but it remains supported near $1,250 and $1,230.Ethereum gained pace for a move above $1,300 before the bears appeared.
The price is now trading above $1,250 and the 100 hourly simple moving average.
There was a break below a major bullish trend line with support near $1,280 on the hourly chart of ETH/USD (data feed via Kraken).
The pair could correct further lower towards the $1,250 and $1,230 suppo