FxWirePro: ETH/USD takes support at 90-EMA, break above 10 targets 10.82

ETH/USD is trading in a narrow range between 9.65 and 9.90 levels, trying to hold its strength above 90-EMA. It is currently trading at 9.68 levels at press time (Kraken).

Ichimoku analysis (Daily chart):

Tenkan-Sen:10

Kijun-Sen: 9.32

The pair’s upside is being capped by 9.87 (38.2% retracement of 7.01 and 11.63) and a break above would see it testing 10.10 (38.2% retracement of 11.63 and 9.16)/10.69 /10.82 (200-DMA). A decisive break above 200-DMA would see further bullishness in the pair.

On the flip side, the pair has taken support near 9.51 (90-EMA) and a break below would drag it to 9.16 (January 12 low)/8.77 (61.8% retracement of 7.01 and 11.63).