ETH/USD is trading in a tight range on Tuesday as it hovers around 1w 7-SMA at 515 levels at the time of writing (Coinbase).

On the upside, a consistent break above 515 (1w 7-SMA) would target 538 (Upper Bollinger)/568 (50-DMA). Further strength would see it testing 600/625 (200-DMA).

On the downside, support is seen at 502 (1h 90-EMA) and any violation would drag the pair to 469 (10-DMA)/428 (20-DMA). Further weakness would target 400/ 360 (April 1 low).

Momentum studies: On the daily chart, MACD line is above the signal line, RSI is above 50, and 10-DMA is biased higher. However, stochs are in the overbought zone.

The pair is extremely rangebound and traders are preferred to wait for a confirmed signal on the daily chart.

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