ETH/USD is holding above 20-DMA on Tuesday and is currently trading at 1166 levels at the time of writing (Kraken).

On the upside, immediate resistance is seen at 1178 (1h 50-SMA) and a break above would see it testing 1208 (trend line joining 1594.89 and 1234)/1234 (January 29 high). Further strength would target 1274 (61.8% retracement of 1594.89 and 755)/1300/1364 (upper Bollinger).

On the downside, support is seen at 1132 (20-DMA) and a break below would target 1100/1086 (10-DMA)/ 1053 (50% retracement of 512 and 1594.89). Further weakness would drag it to 1015 (4h 200-SMA)/ 1000 (trend line joining 512 and 910)/929 (50-DMA).

Momentum studies: Bias appears to be turning bullish on the daily chart with RSI at 57, stochs biased sharply higher, MACD on the verge of a bullish crossover and the pair holding above 20-DMA. A consistent break above the trend line joining 1594.89 and 1234 will see further upside in the pair.

On the 4h chart, RSI is at 54, however, MACD line is below the signal line and stochs are biased lower. Traders are advised to wait for a clear directional bias.

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