ETH/USD continues trading in a narrow range on Wednesday as it struggles for a decisive break above 900 levels. It is currently trading at 864 levels at the time of writing (Kraken).

On the upside, resistance is seen at 913 (4h 200-SMA) and a break above would target 952 (38.2% retracement of 1594.89 and 556)/983 (50-DMA). Further strength would see it testing 1033 (Cloud bottom)/1075/1100.

On the downside, support is seen at 855 (2h 50-SMA) and any violation would drag the pair to 809 (100-DMA)/ 784 (Lower Bollinger). Further weakness would target 733 (61.8% retracement of 201.28 and 1594.89)/700.

Momentum studies: Bias appears neutral on the daily chart with extremely rangebound price action. Further bullishness could be confirmed only if the pair breaks above 4h 200-SMA.

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