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Crypto Technicals: ETH/USD consolidates break above 20-DMA, scope for further upside

ETH/USD chart - Trading View 

Exchange - Coinbase

Support: 248.04 (21-EMA); Resistance: 278.59 (Upper BB)

Technical Analysis: Bias is turning bullish

ETH/USD is consolidating previous session's gains.

The pair is trading 1.95% lower on the day at 257.88 at 10:00 GMT.

Price action is holding above 20-DMA which is immediate support at 255.65.

Technical indicators are turning slightly bullish raising scope for further gains.

Bulls likely to target Upper Bollinger Band at 278.61 ahead of 288.77 (May 30 high).

Retrace below 21-EMA could see weakness till 55-EMA at 223.06. Bullish invalidation below 200-DMA.

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

By Anupama Grandhi
  • Market Data
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