Crypto Technicals: ETH/USD finds stiff resistance at 239 (55W-EMA), break above required for next leg higher

ETH/USD chart - Trading View

Exchange - Coinbase

Support: 204.98 (5-DMA); Resistance: 239.30 (55W EMA)

Technical Analysis: Bias Bullish

ETH/USD is riding the bull wave, hits 8-month highs at 234.99

The pair has broken above trendline resistance at 208, bias bullish

Stochs and RSI are sharply higher and MACD and DMI support gains

That said, oscillators are at overbought levels which could see some correction from highs

55W EMA at 239 offers strong resistance, breakout above required for further upside

5-DMA at 205.83 is immediate support below trendline, break below to see dip till 50-DMA

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