The Ethereum price has finally been able to break above the $1,233 resistance mark. Over the last 24 hours, the coin has registered substantial gains. With the price moving above the $1,233 resistance level, Ethereum price has pictured a positive short-term bullish thesis on its one-day chart.
Technical outlook also agreed with the same and depicted a rise in demand for the king altcoin. Buyers will need to stick around for longer than the next couple of trading sessions for ETH to reach above the $1,300 price mark.
The price of ETH must remain above $1,200 and $1,230, or else the bears will return. This would mean Ethereum could drop to a psychological floor of $1,000. The altcoin has logged considerable gains over the past week’s duration, surging more than 11%. ETH’s chart depicts accumulation, which is good for short-term bullish momentum.
Ethereum Price Analysis: One-Day Chart
Ethereum was priced at $1,260 on the one-day chart | Source: ETHUSD on TradingView
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