ETH/USD is trading higher on Tuesday and has broken above 10-DMA on Tuesday. It is currently trading at 754 levels at the time of writing (Kraken).

Ichimoku analysis (Daily chart):

Tenkan-Sen: 687.50

Kijun-Sen: 632.50

On the upside, resistance is seen at 787 (78.6% retracement of 863 and 512) and a break above would target 800/863 (December 19 high). Further strength would see it testing 896 (Upper Bollinger)/908.

On the downside, support is seen at 699 (4h 20-SMA) and a break below would drag the pair to 648 (20-DMA)/610 (38.2% retracement of 201.28 and 863)/570.

Momentum studies: On the daily chart, RSI is strong at 65 while MACD line is below the signal line. Stochs are also biased higher. Intraday bias appears bullish.

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