ETH/USD is trading in a narrow range on Wednesday as it struggles for a consistent break above 10-DMA. It is currently trading at 403 levels at the time of writing (Coinbase).

On the upside, a decisive break above 413 (10-DMA) would see the pair testing 445 (3h 100-SMA)/481 (20-DMA). Further strength would target 528 (3h 200-SMA)/595 (4h 200-SMA).

On the downside, support is seen at 397 (1h 50-SMA) and a break below would target 360 (April 1 low)/ 349 (113% extension of 1224 and 450)/300.

Momentum studies: Overall bias appears bearish with RSI and stochs at oversold levels, and the pair’s upside being capped by 10-DMA on the daily chart. The current price action is forming a bearish flag pattern and weaker bulls could see further declines to 300 levels.

The pair is extremely rangebound and traders are preferred to wait for a confirmed signal on the daily chart.

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