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FxWirePro: ETH/USD rangebound below cloud, intraday bias neutral

Mon, 30 Jul 2018, 11:57 am UTC

ETH/USD continues to trade in a narrow range on Monday as it faces strong resistance from Ichimoku Cloud.

The pair is currently trading at 459 levels at the time of writing (Coinbase).

On the upside, a break above 475 (Cloud bottom) would see it testing key psychological level of 500. Further strength would target 522 (90-EMA)/563 (100-DMA)/600.

On the downside, the pair continues to hold trend line support at 458 and a decisive break below would drag it to 420 (trend line joining 360 and 404.22)/400.

Intraday bias appears neutral as the pair extends consolidation.

Technical indicators are bearish on the daily chart – RSI is below 50 and stochs are biased lower.

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  • Bitcoin (BTC) $8,629.94 (+7.10%)
  • Ethereum (ETH) $265.38 (+5.24%)
  • XRP (XRP) $0.407300 (+5.20%)
  • Bitcoin Cash (BCH) $429.86 (+5.74%)
  • Litecoin (LTC) $110.30 (+7.62%)
  • Bitcoin (BTC) $8,629.94 (+7.10%)
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