ETH/USD is trading in a narrow range on Monday with its upside capped by 7-DMA. It is currently trading at 723 levels at the time of writing (Kraken).

On the upside, immediate resistance is seen at 730 (7-DMA) and a break above would see it testing 767 (10-DMA)/808 (20-DMA). Further strength would target 851 (100-DMA)/889 (50-DMA).

On the downside, support is seen at 710 (1h 50-SMA) and any violation would see the pair testing 680 (lower Bollinger)/649 (trend line joining 556 and 641). Further weakness would drag it to 622 (February 05 low)/ 587 (200-DMA).

Momentum studies: On the daily chart, RSI is weak at 39, MACD line is below the signal line, while stochs have rolled over from the oversold levels. Intraday bias appears slightly bullish.

Traders are preferred to wait for a clear directional bias.

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