ETH/USD continues to trade in a narrow range on Wednesday between 41 and 43 levels. It is currently trading at 41 levels at press time (Kraken).

Ichimoku analysis of daily chart:

Tenkan Sen: 36.45

Kijun Sen: 32.23

On the upside, the pair is facing strong resistance at 45.97 levels (161.8% extension of 5.92 and 30.67 rally) and a break above would see it testing 51.90 (March 17 high)/55.43.

On the flipside, support is seen at 40.49 (5-DMA) and any violation would drag it to 36.18 (10-DMA)/30.30 (March 18 low).