ETH/USD hit 50.96 levels on Thursday and closed just above the 50 mark. It is currently trading at 48 levels at press time (Kraken).

Ichimoku analysis (Daily chart):

Tenkan-Sen: 45.98

Kijun-Sen: 46.28

Overall bias remains bullish for the pair. On the upside, further bullishness in the pair would be seen only if it breaks above 51.90 (March 17 high). A decisive break above would target 54.97 (March 30 high)/56.79 (113% retracement of 54.97 and 41.01).

On the flipside, support is seen at 47.32 (21-DMA) and any violation would drag it to 45.21 (10-DMA)/41 levels (April 06 low)/ 37.60 (March 22 low).