Crypto Technicals: ETH/USD hovers shy of 200-DMA (176.06), poised for further gains

ETH/USD chart - Trading View

Exchange - Coinbase

Technical Analysis: Bias Bullish

Support: 166.37 (5-DMA); Resistance: 176.06 (200-DMA)

ETH/USD is extending gains for the 3rd straight session, bias is bullish.

The pair was trading 1.38% higher at 172.11 at around 05:00 GMT, after closing 1.45% higher in the previous session.

Price action has bounced off daily cloud and 21-EMA support and any weakness only on break below.

Major and minor trend is bullish as evidenced by GMMA indicator. Stochs and RSI are biased higher.

Stiff resistance is seen at 176 (nearly converged 200-DMA and trendline). Break above will propel the pair higher.

The pair is extending gains above 21W EMA (166.41). Next major resistance is seen at 55W EMA at 196.87 ahead of 38.2% Fib at 211.08.

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