ETH/USD is extremely rangebound on Tuesday as it faces stiff trend line resistance at 949 levels. It is currently trading at 936 levels at the time of writing (Kraken).

On the upside, a decisive break above 949 (trend line joining 1594 and 983) would see the pair testing 1003 (50-DMA)/1048 (Cloud top). Further strength would target 1075 (50% retracement of 1594.89 and 556)/ 1100.

On the downside, support is seen at 907 (10-DMA) and a break below would target 877 (20-DMA)/816 (90-EMA). Further weakness would drag it to 768 (100-DMA)/ 733 (61.8% retracement of 201.28 and 1594.89).

Momentum studies: Bias remains bullish on the daily chart with RSI at 50, MACD line above the signal line and 10-DMA biased higher. Some weakness could be seen on weekly charts.

Recommendation: Good to go long on break above 949. SL: 890. TP: 1000/1048

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