Crypto Technicals: ETH/USD rangebound at 55-EMA resistance (144.68), break above to fuel further gains

ETH/USD chart - Trading View

Exchange - Coinbase

Support: 138.12 (5-DMA); Resistance: 144.68 (55-EMA)

Technical Analysis: Bias Bullish

ETH/USD was consolidating previous session's gains, bias remains bullish.

The pair was trading marginally lower at 142.70, down 1.03% at 04:45 GMT, after closing 6.56% higher in the previous session.

Price action struggles at 55-EMA resistance at 144.68, break above will propel prices higher.

Technical indicators have turned bullish. Stochs and RSI are biased higher. Volatility is also rising.

On the weekly charts the pair has resumed upside after 'Hammer' and back-to-back 'Dragonfly Doji' formations.

Break above 55-EMA will find next major hurdle at daily cloud (152.54). Breakout above cloud will shift major bias to bullish.

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