ETH/USD is continuing its uptrend on Tuesday and trading at 678 levels at the time of writing (Coinbase).

On the upside, a consistent break above 681 (Cloud top) would target 700/736 (100-DMA). Further strength would see the pair testing 764 (38.2% retracement of 1419.96 and 360)/778 (1w 20-SMA).

On the downside, support is seen at 641 (1h 50-SMA) and a break below would test 592 (3h 50-SMA)/580 (10-DMA). Further weakness would drive the price down to 545 (3h 100-SMA)/503 (20-DMA).

Momentum studies: Bias appears bullish on the daily chart with RSI on the verge of a rollover to the overbought zone, MACD line above the signal line, and 10- and 20-DMA biased higher. However, stochs in overbought zone call for high caution.

Bias is bullish on intraday charts as well.

Call Update: We recommended staying long in our previous call. TP1 has been hit.

Recommendation: (i) Book partial profits, stay long. Trail SL to 620. TP: 700/736.
(ii) Good to go long on break above cloud.

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