ETH/USD stopped short of 500 levels on July 8th and is currently trading at 480 levels at the time of writing (Coinbase).

On the upside, a decisive break above key resistance at 500 levels would see the pair testing 525 (50-DMA)/ 547 (June 19 high)/566 (61.8% retracement of 828.97 and 404.22).

The pair’s downside is being capped by 469 (10-DMA) and a break below would target 421 (June 24 low)/408 (trend line joining 360 and 404.22)/368 (113% extension of 828.97 and 421.10).

Momentum studies: Bias appears neutral on the daily chart as the pair extends choppy trade below 500 levels. RSI is below 50, while MACD line is above the signal line and stochs are in the overbought zone.

Watch out for a consistent break above 500 levels for minor upside in the pair.