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FxWirePro: ETH/USD faces strong resistance at 20-DMA, break above to see minor bullishness

ETH/USD is trading in a close range on Thursday with its upside capped by 20-DMA. It is currently trading at 534 levels at the time of writing (Coinbase).

On the topside, a consistent break above 548 (20-DMA) would see the pair testing 573 (100-DMA)/ 596 (Cloud bottom).

On the downside, support is likely to be found at 515 (7-DMA) and a break below would target 500/460 (78.6% retracement of 360 and 828.97) /425 (trend line joining 202.25 and 360)/400.

Momentum studies: On the daily chart, RSI is holding at 45, while MACD line is above the signal line and stochs are biased higher.

The pair faces strong resistance at 20-DMA, and a break above this moving average, coupled with RSI above 50, would see minor upside in the pair.

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