Crypto Technicals: ETH/USD comatose around 21-EMA, 'bullish divergence' keeps scope for upside

ETH/USD chart - Trading View

Exchange - Coinbase

Support: 178.44 (5-DMA); Resistance: 197.58 (50-DMA)

Technical Analysis: Bias slightly bullish

ETH/USD trades largely rangebound around 21-EMA resistance, bias is turning slightly bullish.

Stochs and RSI are biased higher and 'bullish divergence' on the daily charts raises scope for upside.

Major trend in the pair is bearish. 'Death Cross' (bearish 50-DMA crossover on 200-DMA) keeps downside pressure.

However, the pair has ignored 'doji' formation on the previous day's candle and is holding 5-DMA support.

Decisive breakout above 21-EMA could see further upside momentum. Immediate resistance lies at 61.8% Fib at 188.32 ahead of 50-DMA at 197.58.

5-DMA is immediate support. Break below will see resumption of weakness. Dip till 152.50 (trendline) likely.

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