Crypto Technicals: ETH/USD extends range trade, finds stiff resistance at weekly cloud

ETH/USD chart - Trading View

Exchange - Coinbase

Support: 243.01 (1H 200-SMA); Resistance: 267.51 (Weekly cloud base)

Technical Analysis: Bias Neutral

ETH/USD is extending range trade, holds marginal gains above 5-DMA.

The pair has broken above 55-W EMA and now finds stiff resistance at weekly cloud.

Major trend in the pair is bullish, no major signs of reversal seen.

The pair is likely to extend consolidation before the next leg higher. Break into weeky cloud to see further gains.

Stochs and RSI are in the overbought territory, scope for minor correction. Bullish invalidation only below 200-DMA.

Immediate support is seen at 5-DMA at 251.70, break below could see drag till 234 (23.6% Fib).

For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.