ETH/USD is struggling to break above 10-DMA and is currently trading in a close range around 730 levels at the time of writing (Coinbase).

On the upside, a decisive break above 730 (10-DMA) would see the pair soaring to 780 (trend line joining 1419.98 and 828.97)/812 (Upper Bollinger). Further strength would test 849 (78.6% retracement of 982.99 and 360)/900.

On the flipside, immediate support is seen at 718 (20-DMA) and a break below would see it testing 678 (200-DMA)/627 (Cloud top). Further weakness would target 600/574 (50-DMA).

Momentum studies: On the daily chart, MACD line is below the signal line, while RSI is holding at 57 and stochs are showing a turn from near oversold levels. The pair faces strong resistance at 10-DMA and a consistent break above would see further upside in the pair.

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