ETH/USD is trading in a very narrow range from past couple of sessions. It is currently trading at 347 levels at the time of writing (BTC-e).
Ichimoku analysis (Daily chart):
Tenkan-Sen: 352.50
Kijun-Sen: 262.03
The pair is currently trading just shy of 353 (1h 200-SMA) and a consistent break above would see it testing 367.72 (61.8% retracement of 417 and 288) / 389/417 (June 12 high)/433.
On the downside, immediate support is seen at 338 (2h 100-EMA) and a break below would target 295 (20-DMA)/288 (June 15 low)/262 (50% retracement of 107.06 and 417).
Momentum studies: On the daily chart, RSI is holding at 72, while stochs suggest lower bias. Also, a bearish MACD crossover is in the works.
Recommendation: Bias appears neutral at the moment. Traders are preferred to wait for a confirmed signal on daily charts.
