ETH/USD broke above 20-DMA on Wednesday but failed to close above. Today, the pair continued its uptrend and hit 48.80 levels. It is currently trading at 48 levels, holding just above 20-DMA at the time of writing (Kraken).

Ichimoku analysis (Daily chart):

Tenkan-Sen: 44.90

Kijun-Sen: 43.74

On the upside, a close above 47.13 (20-DMA) would see further bullishness in the pair, targeting 49.64 (61.8% retracement of 54.97 and 41)/ 51.90 (March 17 high). Overall bias appears bullish as RSI is strong at 60 and stochs are pointing higher.

On the flipside, support is seen at 44.59 (10-DMA) and any violation would drag it to 41 levels (23.6% retracement of 5.92 and 51.90 rally)/ 37.60 (March 22 low).