- ETH/USD is lower on Friday after it failed to breach cloud resistance.
- It is currently trading at 463 levels at the time of writing (Coinbase).
- On the upside, the pair faces stiff resistance at 496 (50-DMA) and a break above would test 504 (cloud bottom)/537 (90-EMA)/570 (100-DMA).
- On the downside, the pair is holding support at 458 (10-DMA) and a break below would drag it to 439 (4h cloud bottom)/414 (trend line joining 360 and 404.22)/400.
- Technical indicators appear bearish on the daily (RSI below 50, stochs biased lower) as well as intraday charts.
Recommendation: Good to go short on break below 10-DMA. SL: 500. TP: 440/420/400.