Ethereum Price Holds Strong at $1,250: A Strengthening Case for Upside
Ethereum spiked above the $1300 resistance zone against the US Dollar ETH is correcting gains but it remains supported near $1250 and $1230.
ETH boosted above $1300 before the bears appeared the price is currently trading above $1250 and the 100 hourly simple moving average.
There was a break below a major bullish trend line with support near $1280 on the hourly graph at ETH/USD.
The bears were active about the $1300 resistance zone Ether price traded as high as $1309 before there was a downside. ETH price decreased below the 23.6% FIB level of the upward move from the $1150 swing low to the $1309 high.
There was a break below a major bullish trend line with support near $1280 on the hourly graph of ETH/USD the pair is still trading above $1250 and the 100 hourly simple moving average.
The live Ethereum price today is $1,273.65 USD with a 24-hour trading volume of $6,436,988,412 USD. Ethereum is down 0.61% in the last 24 hours. The current CoinMarketCap ranking is #2, with a live market cap of $155,860,893,954 USD. It has a circulating supply of 122,373,866 ETH coins
Ethereum price statistics the ETH price change in 24 hours is -$8.93 of 0.70%, ETH 24-hour low is $1,267.71 and 24 hour high is $1,291.69 with 18.30% Market dominance.
ETH's 7-day low is $1,156.06 and 7 day high is $1,302.04 with 44879.38% Ethereum ROI.
if the ETH bulls remain in action above $1400 the price could rise toward the $1450 resistance zone.
If ETH will fail to start another increase above the $1300 resistance level it could start a downfall initial support on the downside is near the $1250 and the 100 hourly simple moving average.
The next major support is near the $1230 level or the 50% FIB retracement level of the upward move from the $1150 low to the $1309 high if there is a break below $1230 the price could test the $1180 support any more losses could lead the price towards the $1150 support.