ETH/USD continues trading in a narrow range on Tuesday with its upside capped by 10-DMA. It is currently trading at 44 levels at the time of writing (Kraken).

Ichimoku analysis (Daily chart):

Tenkan-Sen: 44.75

Kijun-Sen: 42.63

On the upside, the pair is facing strong resistance at 44.43 (10-DMA) and a break above would see the pair testing 47.16 (20-DMA)/ 49.64 (61.8% retracement of 54.97 and 41).

On the flipside, 23.6% retracement of 5.92 and 51.90 rally is acting as a major support for the pair (41 levels) and a break below would confirm minor bearishness in the pair, dragging it to 37.60 (March 22 low)/34.33.

Traders are advised to wait for confirmed signal on daily charts.