ETH/USD is holding above 500 levels on Monday and trading at 512 levels at the time of writing (Coinbase).

On the upside, immediate resistance is seen at 522 (1h 20-SMA) and a break above would target 576 (50-DMA)/600. Further strength would see it testing 624 (200-DMA).

On the downside, support is seen at 498 (1h 100-SMA) and any violation would drag the pair to 456 (10-DMA)/424 (20-DMA). Further weakness would target 400/ 360 (April 1 low).

Momentum studies: Bias appears bullish on the daily chart with MACD line above the signal line, 10-DMA biased higher, and RSI at 55. The price is currently hovering around upper Bollinger and the narrowing of the Bollinger band suggests an upcoming change in trend. A reversal in trend could be confirmed only on a decisive break above 200-DMA.

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