ETH/USD continues trading in a narrow range on Tuesday, between 48 and 50 levels. It is currently trading at 49 levels at press time (Kraken).

Ichimoku analysis (Daily chart):

Tenkan-Sen: 42.70

Kijun-Sen: 34.23

On the upside, resistance is seen at 52.89 (March 24 high) and a break above would target 55.43 (200% extension of 5.92 and 30.67 rally)/57.77(127.2% retracement of 51.90 and 30.30).

On the reverse side, the pair is trading just above 46.73 (7-DMA) and a below could see a dip till 44.45 (10-DMA). Further weakness could drag it to 41.81 (23.6% retracement of 5.92 and 52.89)/37.60 (March 22 low).