ETH/USD continues to trade in a narrow range on Tuesday as it faces strong trend line resistance at 894 levels. It is currently trading at 832 levels at the time of writing (Kraken).

On the upside, the pair faces strong resistance at 894 (trend line joining 1594.89 and 1234) and a break above would see it testing 936 (20-DMA)/974 (50-DMA). Further strength would target 998 (Cloud bottom)/1075 (50% retracement of 1594.89 and 556).

On the downside, support is seen at 796 (90-EMA) and a break below would drag it to 733 (61.8% retracement of 201.28 and 1594.89)/723 (100-DMA). Further weakness would target 700/643 (lower Bollinger)/600.

Momentum studies: On the daily chart, MACD is on the verge of a bullish crossover, while RSI is below 50 and 10- and 20-DMAs are biased lower. A break above the trend line resistance will see minor bullishness, targeting 1000, while a breach of 90-EMA support would see further downside.

Traders are preferred to wait for a clear directional bias.

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