ETH/USD broke above 10-DMA on Tuesday, after hit a low of 12.22 levels earlier in the day. It is currently trading at 12.73 levels (Kraken).

Ichimoku analysis (Daily chart):

Tenkan-Sen: 12.37

Kijun-Sen: 11.98

Momentum studies show neutral bias. Traders are preferred to wait for confirmations on technicals.

In the hourly chart, the pair has taken strong support near 12.49 (1H 200-SMA), while in the daily chart, 11.76 (20-DMA) is acting as a major support. Immediate support is seen at 12.22 levels (today’s low) and a break below would drag it to 11.89 (38.2% retracement of 9.16 and 13.58)/11.71 (21-DMA).

On the upside, immediate resistance is seen at 12.91 (February 20 high) and a break above would test 13.48 (upper Bollinger)/13.58 (February 14 high).