ETH/USD is trading in a narrow range on Monday between 7.72 and 7.89 levels. It is currently trading at 7.76 levels (Kraken).

Ichimoku analysis (Daily chart):

Tenkan-Sen: 8.08

Kijun-Sen: 7.92

Trend reversal: 9.97 (90-EMA)

The pair’s upside is being capped by 8.07 (21-day MA) and a break above would target 8.60 (78.6% retracement of 8.89 and 7.50)/8.89 (December 08 high). A break above 9.00 levels (trend line joining 14.45 and 12) would see minor bullishness in the pair and would target 9.97 (90-EMA).

On the reverse side, the pair is likely to find support at 7.50 (December 17 low) and any violation would see it testing 7.25 (trend line joining 12.30 and 8.67)/ 7 (August 02 low).