ETH/USD is trading in a narrow range on Thursday as it tries to hold above the trend line support at 429 levels. It is currently trading at 432 levels at the time of writing (Coinbase).

On the upside, the pair faces resistance at 450 (7-DMA) and a break above would see it testing 475 (10-DMA)/494 (20-DMA). Further strength would see it testing 533 (4h 200-SMA)/565 (100-DMA).

On the downside, the pair has found strong support near 429 (trend line joining 202.25 and 360) and a decisive break below would drag it to 400/368 (113% extension of 828.97 and 547.40)/350 (1w 90-EMA).

Momentum studies: Technical indicators are bearish. Bear flag pattern also supports further downside in the pair.

The pair has been testing the trend line support at 429 in the past couple of days and a close below will confirm further bearishness.