ETH/USD remains rangebound on Thursday and is trying to hold above 600 levels (Coinbase).

On the upside, the pair faces resistance at 627 (55-EMA) and a break above would target 657 (50-DMA). Further strength would target 699 (Cloud top)/713 (200-DMA).

On the flipside, the pair is holding cloud support at 594 levels and any violation would drag the pair to 580 (3h 100-SMA)/539 (1w 50-SMA). Further weakness would see it testing 500/460 (78.6% retracement of 360 and 828.97).

Momentum studies: Bias remains neutral on the daily chart with back-to-back doji formations. RSI is holding at 48, while MACD line above signal line and stochs are near overbought levels.

Watch out for a decisive break above 55-EMA for minor bullishness in the pair which could see jump till 700.

FxWirePro launches Absolute Return Managed Program. For more details, visit http://www.fxwirepro.com/invest