ETH/USD is trading in a narrow range between 82 and 86 levels as its upside is being capped by 5-DMA. It is currently trading at 85 levels at the time of writing (BTC-e).

Ichimoku analysis (Daily chart):

Tenkan-Sen: 82.07

Kijun-Sen: 69.15

On the upside, a close above 84.76 (5-DMA) would see the pair testing 92 (May 07 high)/98 (113% extension of 41 and 92).

On the 2-hour chart, 50-SMA is acting as a major resistance for the pair and further bullishness could be seen only on a break above this level.

Support is seen at 82 (2h 100-EMA) and a break below would drag the pair to 79.75 (23.6% retracement of 41 and 92)/75 (May 09 low). Traders are preferred to wait for a confirmed signal on daily charts.