ETH/USD continues to consolidate in a narrow range with its upside capped by 100-DMA. It is currently trading at 678 levels at the time of writing (Coinbase).

On the upside, the pair faces strong resistance at 703 (100-DMA) and a break above would target 746 (Upper Bollinger)/ 764 (38.2% retracement of 1419.96 and 360)/800.

On the flipside, support is likely to be found at 647 (3h 100-SMA) and a break below would test 606 (20-DMA)/576 (38.2% retracement of 360 and 711). Further weakness would drag the 524 (50-DMA)/500.

Momentum studies: On the daily chart, RSI is strong at 63, MACD line above the signal line, and stochs are in the overbought zone, suggesting bullish bias. However, the pair is extremely and further bullishness could be confirmed only on a break above 100-DMA.

Recommendation: Good to go long on break above 100-DMA. SL: 660. TP: 746/764.

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