FxWirePro: ETH/USD faces strong resistance at 50, bias neutral
ETH/USD continues rangebound trading on Monday as its upside is capped by the 50.00 mark. It is currently trading at 49 levels at the time of writing (Kraken). Ichimoku analysis (Daily chart): Tenkan-Sen: 46.84 Kijun-Sen…
ETH/USD continues rangebound trading on Monday as its upside is capped by the 50.00 mark. It is currently trading at 49 levels at the time of writing (Kraken).
Ichimoku analysis (Daily chart):
Tenkan-Sen: 46.84
Kijun-Sen: 47.99
The pair is facing strong resistance at 50.00 and a close above would see further upside, targeting 51.90 (March 17 high)/54.97 (March 30 high).
Momentum studies appear neutral and traders are preferred to wait for a confirmed signal on daily charts.
Support is seen at 46.90 (20-DMA) and a close below would drag it to 43.32 (23.6% retracement of 15.56 and 51.90)/41 (23.6% retracement of 5.92 and 51.90 rally).
