ETH/USD continues to consolidate in a narrow range below 500 levels on Thursday. It is currently trading at 474 levels at the time of writing (Coinbase).

On the upside, the pair is currently testing 473 (20-DMA) and a consistent break above would target 500/542 (50-DMA). Further strength would see it soaring to 560 (100-DMA).

On the flipside, a break below 473 (20-DMA) would drag it to 451 (10-DMA)/ 407 (trend line joining 360 and 404.22)/368 (113% extension of 828.97 and 421.10).

Momentum studies: On the daily chart, stochs and MACD suggest scope for further bullishness in the pair, while RSI is below 50.

Watch out for a break above 500 levels for minor bullishness in the pair

Recommendation: Wait for clear directional bias.