ETH/USD is trading in the red on Friday at 367 levels as it faces strong resistance at 10-DMA (Coinbase).

On the upside, the pair faces strong resistance at 392 (10-DMA) would see the pair testing 421 (3h 100-SMA)/459 (20-DMA). Further strength would target 502 (3h 200-SMA)/563 (23.6% retracement of 1224 and 360).

On the downside, a break below 360 (April 1 low) would see the pair testing 313 (lower bollinger)/300. Further weakness would drag it to 275 (1w 90-EMA).

Momentum studies: Overall bias remains bearish with RSI and stochs at oversold levels, the pair’s upside being capped by 10-DMA, and the formation of bearish flag pattern. Bias remains bearish on weekly and hourly charts as well.

Recommendation: Good to go short on break below 360. SL: 420. TP: 313/300.

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