FxWirePro: ETH/USD remains rangebound, further bullishness only above 21-EMA

(Refer ETH/USD chart on Trading View)

ETH/USD remains largely rangebound for the week.

It is currently trading at 275 levels with its upside capped by 10-DMA at the time of writing (Coinbase).

On the upside, a consistent break above 285 (10-DMA) would see the pair testing 300/319 (21-EMA)/342 (3h 200-SMA)/373 (4h 200-SMA)/398 (50-DMA).

On the downside, a violation of 265 (78.6% retracement of 250 and 322) would drag it to 250 (August 14 low)/ 230/200.

Bias remains neutral on the daily chart and the pair is extremely rangebound.

Watch out for a consistent break above 21-EMA for signs for further bullishness in the pair.