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ETH/USD is trading in a narrow range on Tuesday between 41 and 43 levels as its upside continues to be capped by 161.8% extension of 5.92 and 30.67 rally. It is currently trading at 42 levels at press time (Kraken).
Ichimoku analysis of daily chart:
Tenkan Sen: 36.45
Kijun Sen: 32.23
On the upside, resistance is seen at 45.97 levels (161.8% extension of 5.92 and 30.67 rally) and a break above would see it testing 51.90 (March 17 high)/55.43.
On the flipside, support is seen at 40.94 (5-DMA) and any violation would drag it to 34.06 (10-DMA)/30.30 (March 18 low).
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FxWirePro: ETH/USD rangebound, further bullishness only above 45
Tuesday, March 21, 2017 9:58 AM UTC
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