ETH/USD is trading in a close range as it continues to face strong resistance at 325 levels, where it currently trades (Kraken).

Ichimoku analysis (Daily chart):

Tenkan-Sen: 308.49

Kijun-Sen: 261.89

On the upside, a consistent break above 325 would see the pair testing 347 (78.6% retracement of 404.98 and 134.78)/350 (trend line joining 271.40 and 345.99). Further strength would target 381 (June 18 high)/404 (June12 high)/440.

On the flip side, a break below 310 (5-DMA) would see it testing 293 (20-DMA)/245 (50-DMA). Further weakness would drag the pair to 230 (100-EMA)/ 208 (1w 20-SMA).

The pair is currently consolidating in a close range after it broke above the trend line joining 404 and 320. Overall bias appears is bullish and a close above 325 levels, coupled with a rollover of RSI to overbought levels would see further bullishness in the pair.

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