ETH/USD continues to trade in a narrow range on Thursday as it tries to hold above 200-DMA. It is currently hovering around 700 levels at the time of writing (Coinbase).

On the upside, the pair faces resistance at 715 (10-DMA) and a break above would target 770 (trend line joining 1419.98 and 828.97)/806 (Upper Bollinger). Further strength would test 849 (78.6% retracement of 982.99 and 360)/900.

On the flipside, support is seen at 682 (200-DMA) and a break below would see it testing 664 (100-DMA)/619 (Cloud top). Further weakness would target 600/584 (50-DMA).

Momentum studies: Bias remains bearish on the daily chart with the pair’s upside capped by 10-DMA, MACD line below the signal line, RSI at 52 with lower bias, and stochs biased lower. Intraday bias is also bearish.

Watch out for a break below 200-DMA for further bearishness in the pair.

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