ETH/USD is trading in a narrow range, holding just above 5-DMA. It is currently trading 216 levels at the time of writing (BTC-e). Ichimoku analysis (Daily chart): Tenkan-Sen: 169 Kijun-Sen: 153 On the upside, the pair f…
By Shampa Mani
Updated 1 min read
Image from the original EconoTimes article
ETH/USD is trading in a narrow range, holding just above 5-DMA. It is currently trading 216 levels at the time of writing (BTC-e).
Ichimoku analysis (Daily chart):
Tenkan-Sen: 169
Kijun-Sen: 153
On the upside, the pair faces resistance at 223.38 (113% retracement of 210 and 107.06) and a consistent break above would target 237/256 (127.2% extension of 40.12 and 210)/273/300.
Momentum studies remain bullish as RSI is holding at 75 and MACD line is above signal line on the daily chart. Stochs are in the overbought zone.
On the downside, a break below 212 (5-DMA) would target 187.46 (10-DMA). Further weakness would see the pair testing 150 (20-DMA)/107 (May 27 low).
The Ripple-commissioned analysis connects custody with services such as payments, tokenization and stablecoin issuance, but gives no timeframe for the modeled gain.
