ETH/USD is trading in a narrow range between 7.23 and 7.33 levels on Tuesday. It is currently trading at 7.26 levels (Kraken).

Long-term trend: Bearish

Short-term trend: Bearish

Ichimoku analysis (Daily chart):

Tenkan-Sen: 7.49

Kijun-Sen: 7.40

Trend reversal: 9.55 (90-EMA)

The pair’s upside is being capped by 7.31 levels (5-EMA) and a break above would target 7.50 levels (psychological) /7.85 (21-day MA).

On the flip side, the 7.00 level is acting as a major support for the pair and any violation would drag it to 6.75 (trend line joining 12.30 and 8.67)/6.55 (78.6% retracement of 5.92 and 8.89)/ 5.92 (December 06 low).