Ethereum technical analysis: Can the bulls take the price back above $250?

ETH/USD daily chart

ETH/USD went down from $246.25 to $245.15 in the early hours of Thursday.
The market is trending below the 20-day simple moving average (SMA 20) and above the SMA 50 and SMA 200 curves.
The market is consolidating in a triangle formation and is getting primed for a breakout.
The signal line is diverging away from the moving average convergence/divergence (MACD) line showing increasing bearish momentum.
The relative strength index (RSI) is trending around 53 in the neutral zone.

ETH/USD 4-hour chart

The four latest sessions of the 4-hour chart have the bulls canceling the bears ours immediately after they attempt a breakout.
The 4-hour price has been trending below the green cloud of the Ichimoku indicator.
The market is consolidating in a triangle formation before it gets ready for a breakout.
The bulls will need to overcome resistance at $248.75.
Elliot oscillator shows eight straight bullish sessions of decreasing intensity.
The relative strength index (RSI) is trending around 44.

ETH/USD hourly chart

In the early hours of Thursday, the bears took the price down from $246.15 to $245.38. After that, the bulls took the price up to $246.
The narrowing of the 20-day Bollinger band hints at lower market volatility.
The hourly price is currently trending horizontally.
The hourly market is trending below the SMA 200 curve.
The SMA 20 has crossed over the SMA 50, which is a bullish sign.
The Elliot oscillator has had eight bullish sessions out of the last nine.
The signal line is trending parallelly with the MACD line and is slowly converging with it, indicating decreasing bullish momentum.

Key levels

ETH/USD

Overview
Today last price	245.96
Today Daily Change	-0.22
Today Daily Change %	-0.09
Today daily open	246.18

Trends
Daily SMA20	255.54
Daily SMA50	208.23
Daily SMA100	177
Daily SMA200	150.22

Levels
Previous Daily High	249.36
Previous Daily Low	237.78
Previous Weekly High	288.43
Previous Weekly Low	239.36
Previous Monthly High	288.43
Previous Monthly Low	159.05
Daily Fibonacci 38.2%	244.94
Daily Fibonacci 61.8%	242.2
Daily Pivot Point S1	239.52
Daily Pivot Point S2	232.86
Daily Pivot Point S3	227.94
Daily Pivot Point R1	251.1
Daily Pivot Point R2	256.02
Daily Pivot Point R3	262.68

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