FxWirePro: ETH/USD trades in narrow range, good to buy at dips

ETH/USD is trading in narrow range between $15.10 and $13.70 for the past two trading session. It is currently trading at $13.82 (Kraken).

Ichimoku analysis (Daily chart):

Tenkan-Sen level: $13.19

Kijun-Sen level: $15.79

Trend reversal level - (90 4H EMA)-$11.89

Both long-term and short-term trend remain bullish for the pair. It faces major resistance at $14.48 (38.2% retracement of $21.48 and $10.10) and any break above that level will take the pair till $14.80 (21 day MA)/ $15.10/$16.08 (Jun 22 high). Short-term support is seen at $13.70 (38.2% retracement of $10.10 and $16.08) and any violation below will drag the pair till $13.06 (55 day EMA)/ $12.38.

“In daily chart ETH/USD is facing strong resistance at $14.78 (21 day MA). So any break above targets $15.10/$16.08”, FxWirePro said in a statement.