ETH/USD continues to trade in a narrow range on Monday as it faces strong resistance from Ichimoku Cloud.

The pair is currently trading at 459 levels at the time of writing (Coinbase).

On the upside, a break above 475 (Cloud bottom) would see it testing key psychological level of 500. Further strength would target 522 (90-EMA)/563 (100-DMA)/600.

On the downside, the pair continues to hold trend line support at 458 and a decisive break below would drag it to 420 (trend line joining 360 and 404.22)/400.

Intraday bias appears neutral as the pair extends consolidation.

Technical indicators are bearish on the daily chart – RSI is below 50 and stochs are biased lower.