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FxWirePro: ETH/USD takes support near 5-DMA, minor bearishness on close below

ETH/USD is trying to maintain its upward trend and hold above 5-DMA. It is currently trading at 19.23 levels at the time of writing (Kraken).

Ichimoku analysis (Daily chart):

Tenkan-Sen: 15.89

Kijun-Sen: 14.85

Overall bias remains bullish. On the upside, resistance is now seen at 19.72 (161.8% retracement of 14.45 and 5.92) and any violation would see the pair testing 20 (psychological)/20.49 (March 03 high).

Caution is advised as Stochs and RSI(14) are in the overbought zone. Immediate support is seen at 19.09 (2H 50-SMA) and a break would target 18.60 (5-DMA) / 17.90 (March 05 low).

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