ETH/USD is trading higher on Tuesday as it broke above channel top. It is currently trading at 892 levels at the time of writing (Kraken).

On the upside, the pair is likely to face resistance at 918 (4h 200-SMA) and a break above would target 952 (38.2% retracement of 1594.89 and 556)/989 (50-DMA)/1012 (Cloud bottom). Further strength would see it testing 1075/1100/1131 (Cloud top).

On the downside, support is seen at 863 (2h 90-EMA) and any violation would drag the pair to 820 (90-EMA)/804 (100-DMA). Further weakness would target 778 (Lower Bollinger)/733 (61.8% retracement of 201.28 and 1594.89)/700.

Momentum studies: On the daily chart, MACD is on the verge of a bullish crossover; RSI is at 49 with slightly higher bias; and stochs are biased higher. Intraday bias is bullish.

Recommendation: Good to go long on dips around 880/890. SL: 800. TP: 918/952/989.

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