ETH/USD continues to consolidate in narrow range and is hovering around the trend line resistance joining 1234 and 898.98. IT is currently trading at 864 levels at the time of writing (Kraken).

On the upside, a decisive break above 875 (20-DMA) would see the pair testing 901 (4h 200-SMA)/ 952 (38.2% retracement of 1594.89 and 556). Further strength would target 967 (50-DMA)/1000.

On the downside, support is likely to be found at 853 (1h 200-SMA) and any violation would drag the pair to 819 (100-DMA)/ 784 (Lower Bollinger). Further weakness would target 733 (61.8% retracement of 201.28 and 1594.89)/700.

Momentum studies: On the daily chart, the pair is extremely rangebound and RSI is below 50. Intraday bias appears bearish.

Watch out for a break below 100-DMA for further bearishness.

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