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FxWirePro: ETH/USD breaches 10-DMA resistance, decisive break above 21-EMA to see minor bullishness

Tue, 28 Aug 2018, 11:32 am UTC

(Refer ETH/USD chart on Trading View)

ETH/USD successfully closed above 10-DMA on Monday at 287 levels.

The pair is extremely rangebound on Tuesday and is trading at 288 levels at the time of writing (Coinbase).

On the upside, the pair is eyeing next key resistance at 294 (20-DMA) and a consistent break above would see it testing 300/308 (21-EMA)/322 (August 18 high)/351 (4h 200-SMA).

On the downside, a break below 281 (5-DMA) would drag the pair to 265 (78.6% retracement of 250 and 322)/250 (August 14 low).

Bias appears neutral on the daily chart as the pair continues to consolidate in a narrow range.

Intraday bias appears bullish. The pair is currently hovering around 2h 200-SMA and a decisive break above could see a jump till 300 levels.

A consistent break above 21-EMA could see minor bullishness in the pair.

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