ETH/USD is trading in a narrow range on Thursday between 214 and 224 levels. It is currently trading at 221 levels at the time of writing (BTC-e).

Ichimoku analysis (Daily chart):

Tenkan-Sen: 162.53

Kijun-Sen: 146.50

On the upside, the pair faces resistance at 237.99 (127.2% retracement of 210 and 107.06) and a consistent break above would target 256 (127.2% extension of 40.12 and 210)/273/300.

Momentum studies remain bullish as RSI is holding at 77 and MACD line is above signal line on the daily chart.

On the downside, support is seen at 202 (5-DMA) and a break below would see a dip till 183 (10-DMA)/144 (20-DMA).