ETH/USD is trading higher on Thursday as it broke above 700 levels. It is currently trading at 722 levels at the time of writing (Coinbase).

On the upside, the pair has broken above 700 (100-DMA) and is now eying 745 (61.8% retracement of 982.99 and 360). Further strength would see it testing 756 (Upper Bollinger)/764 (38.2% retracement of 1419.96 and 360)/777 (1w 20-SMA)/800.

On the flipside, support is seen at 673 (10-DMA) and a break below would test 652 (200-DMA)/618 (20-DMA). Further weakness would drag the pair to 600/576 (38.2% retracement of 360 and 711).

Momentum studies: Bias is bullish on the daily chart with MACD line above the signal line, RSI near overbought levels, and stochs in overbought zone with upward bias.

Call Update: We recommended going long in our previous call. The call is progressing well.

Recommendation: Hold for targets.

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