ETH/USD turned red after hitting 81.30 levels on Monday and closed at 74.39 levels. It is currently trading at 74 levels at the time of writing (Kraken).

Ichimoku analysis (Daily chart):

Tenkan-Sen: 64.85

Kijun-Sen: 61.52

The pair has taken support near 73.31 (5-DMA) and a close will see minor bearishness in the pair, targeting 71.79 (23.6% retracement of 41 and 81.30)/65.90/63.12 (10-DMA).

RSI is holding above 70, however, bearish RSI divergence could be seen on daily charts suggesting waning momentum in the pair. However, MACD line is above signal line and stochs are in overbought zone.

In the 4-hour chart, 73.59 (4h 20-SMA) is acting as a major support and a decisive break below could see a dip till 65.77 (lower Bollinger).

On the upside, further bullishness could be seen on a close above 80 levels (161.8% extension of 5.92 and 51.90), which would target 81.30 (May 01 high)/86.40 (113% extension of 41.01 and 81.17)/92.