ETH/USD is trading in a narrow range on Monday with its upside capped by 20-DMA. It is currently trading at 707 levels at press time (Coinbase).

On the upside, the pair faces resistance at 726 (20-DMA) and a break above would target 750 (trend line joining 1419.98 and 828.97)/804 (Upper Bollinger). Further strength would see it testing 849 (78.6% retracement of 982.99 and 360)/900.

On the flipside, support is seen at 690 (200-DMA) and any violation would drag the pair to 659 (100-DMA)/613 (Cloud top). Further weakness would target 594(50% retracement of 360 and 828.97).

Momentum studies: Bias appears neutral on the daily chart with MACD line below the signal line, RSI holding above 50 and stochs biased higher.

The pair is extremely rangebound and traders are expected to wait for a clear directional bias.

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