Crypto Technicals: ETH/USD fails to hold break above 200H MA, trades comatose below 5-DMA

ETH/USD chart - Trading View

Exchange - Coinbase

Support: 120.16 (Lower BB); Resistance: 129.54 (200H MA)

Technical Analysis: Bias Neutral

ETH/USD trades extremely rangebound in the European session, with session high at 128.50 and low at 127.33.

Price action on the day remains capped below 5-DMA, intraday bias remains neutral.

The pair has failed to hold break above 200H MA, slips lower to close below 5-DMA on Monday's trade.

Technical indicators do not provide any conclusive direction. RSI remains flat below 50 mark. While, Stochs are biased higher.

Major trend is bearish and retrace below 200H MA has raised doubts about further recovery.

That said, 'Golden Cross' (bullish 50-DMA crossover on 200-DMA) on the daily charts keeps scope for upside.

Decisive breakout above 21-EMA (137.64) to confirm near-term gains. Gains till 55-EMA at 152.71 then likely.

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