Crypto Technicals: ETH/USD consolidates previous session's gains, bias bullish above 200-DMA

ETH/USD chart - Trading View

Exchange - Coinbase

Support: 206.28 (200-DMA); Resistance: 228.27 (100-DMA)

Technical Analysis: Bias Bullish

ETH/USD is trading 1.92% lower on the day at 216.62 at 09:50 GMT.

The pair is consolidating previous session's gains and bias remains bullish as long as pair holds above 200-DMA.

Oscillators are at overbought levels which keeps scope for minor pullbacks.

GMMA indicator shows short-term moving averages have edged above the long-term moving averages.

Scope for more gains. Immediate resistance lies at 100-DMA at 228.26. Next bull target above lies at 38.2% Fib at 240.32.

Pullbacks likely to be shallow. Retrace below 200-DMA will see weakness till 21-EMA at 193.79.

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