ETH/USD is extremely rangebound on Friday and is trading at 925 levels at the time of writing (Kraken).
On the upside, the pair faces resistance at 985 (50-DMA) and a break above would then eye 998 levels (Cloud bottom)/ 1075 (50% retracement of 1594.89 and 556). Further strength would see it testing 1100/1154 (Cloud top).
On the downside, support is seen at 895 (5-DMA) and a break below would target 857 (10-DMA)/827 (trend line joining 1594 and 1234). Further weakness would test 804 (90-EMA)/778 (February 11 low)/733 (61.8% retracement of 201.28 and 1594.89).
Momentum studies: Bias appears to be turning bullish on the daily chart with RSI holding at 50, stochs biased higher and MACD line above the signal line.
Call Update: We recommended going long in our previous call. The call still holds.
Recommendation: Hold for targets. Trail SL to 800. TP: 977/1000.
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