ETH/USD is largely unchanged on Monday, trading at 43 levels at the time of writing (Kraken).
Ichimoku analysis (Daily chart):
Tenkan-Sen: 46.14
Kijun-Sen: 42.63
On the upside, the pair is struggling to close above 43.94 (7-DMA) from past few days. A decisive break above would see the pair testing 45.79 (April 08 high)/47.18 (April 05 high)/ 49.64 (61.8% retracement of 54.97 and 41).
On the flipside, 23.6% retracement of 5.92 and 51.90 rally is acting as a major support for the pair (41 levels) and a break below would confirm minor bearishness in the pair, dragging it to 37.60 (March 22 low)/34.33.
Traders are advised to wait for confirmed signal on daily charts as RSI is holding above 50, while MACD and Stochs suggest bearishness in the pair.
