ETH/USD dropped to 201 levels on September 15. However, it has restored its strength to near 300 levels and is trading at 288 levels at the time of writing (Kraken).

Ichimoku analysis (Daily chart):

Tenkan-Sen: 259.63

Kijun-Sen: 298.14

On the upside, immediate resistance is seen at 300 (50-DMA) and a break above would see the pair testing 312 (20-DMA)/321 (61.8% retracement of 395 and 201). Further strength would target 353/381 (June 18 high)/395 (September 01 high)/404 (June 12 high).

On the flip side, support is seen at 272 (1h 200-SMA) and a break below would drag the pair to 234 (61.8% retracement of 134.78 and 395)/201 (September 15 low)/185 (200-DMA).

Momentum studies: On the daily chart, RSI is at 48 with bullish bias; stochs are biased higher; while MACD line is below the signal line. Bias appears bullish on the hourly charts.

Watch out for a consistent break above 20-DMA for a scope for further upside.

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