ETH/USD is trading lower on Tuesday as it struggles to hold above trend line joining 1419.96 and 711. It is currently trading at 667 levels at the time of writing (Coinbase).
On the upside, a consistent break above 674 (1h 50-SMA) would see the pair testing 706 (100-DMA)/740 (Upper Bollinger). Further strength would target 764 (38.2% retracement of 1419.96 and 360)/800.
On the downside, the pair is holding above 648 (200-DMA) and any violation would test 639 (3h 100-SMA)/597 (20-DMA). Further weakness would drag the pair to 548 (3h 200-SMA)/524 (50-DMA)/500.
Momentum studies: On the daily chart, MACD line is above the signal line, RSI is strong at 61, and stochs are in the overbought zone. The pair is consolidating in a narrow range and further bullishness could be confirmed on a decisive break above 100-DMA.
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