ETH/USD is consolidating inside Ichimoku cloud on Monday and trading at 602 levels at the time of writing (Coinbase).

On the upside, the pair now faces resistance at 617 (100-DMA) and a decisive break above would target 652 (50-DMA)/ 676 (trend line joining 1419.96 and 828.97). Further strength would see it soaring to 693 (Cloud top)/ 709 (200-DMA)/732 (Upper Bollinger).

On the flipside, a break below 594 (Cloud bottom) would drag the pair to 575 (10-DMA)/539 (1w 50-SMA). Further weakness would see it testing 500/460 (78.6% retracement of 360 and 828.97).

Momentum studies: On the daily chart, RSI is below 50, while MACD is on the verge of bullish crossover and stochs are biased higher.

The pair is trying for a decisive break above 100-DMA, which would then target 650/675. Trend reversal could be confirmed on a consistent break above trend line resistance.

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