ETH/USD is trading higher and has broken above 500 levels. It is currently trading at 508 levels at the time of writing (Coinbase).

On the upside, a decisive break above 515 (Upper Bolinger) would target 563 (23.6% retracement of 1224 and 360)/ 596 (50-DMA). Further strength would see it testing 621 (200-DMA)/671 (50% retracement of 982.99 and 360).

On the downside, support is seen at 486 (1h 20-SMA) and any violation would drag the pair to 464 (2h 20-SMA)/421 (20-DMA). Further weakness would target 400/ 360 (April 1 low).

Momentum studies: Bias appears to be turning bullish on the daily chart with RSI at 56, MACD line above the signal line, and stochs rolling over to overbought zone. Intraday bias also appears bullish.

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