ETH/USD is trading in a narrow range on Tuesday after it was rejected at 20-DMA. It is currently trading at 396 at the time of writing (Coinbase).

On the upside, a decisive break above 428 (20-DMA) would see the pair testing 459 (3h 200-SMA)/507 (23.6% retracement of 982.99 and 360). Further strength would see it testing 545 (Upper Bollinger)/590 (55-EMA).

On the downside, a break below 388 (10-DMA) would drag the pair to 360 (April 1 low)/ 311 (Lower Bollinger). Further weakness would target 300.

Momentum studies: On the daily chart, stochs and RSI have rolled over from oversold levels and MACD line is above the signal line. However, the pair is extremely rangebound and failed to break above 20-DMA.

Intraday bias appears bearish.

Recommendation: Wait for clear directional bias.

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