ETH/EUR is seen trading above on Monday after the plunge. The pair has slightly broken from 200 –day MA and declined till 9.612 (KRAKEN). It is currently trading at 9.84 at the time of writing.

Ichimoku analysis of daily chart shows:

Tenkan-Sen level: 9.85

Kijun-Sen level: 9.46

Trend reversal level - (90 days EMA) – 10.36

Long-term trend remains to be bearish. ETH/EUR faces strong resistance at 10.36 (55- day EMA).  So a close above confirms minor bullishness.

Major resistance is seen at 10.15 and any break above that level will take the pair till 10.36 (90- day EMA)/10.98 (61.8% retracement of 13.74 and 6.52)/ 11.30 (Aug 9th high). ETH/EUR should break above 11.30 for a major trend reversal. Short-term support can be noticed at 9.71 (200 day MA) and any violation below will drag the pair till 9.40 (Aug 19th, 2016 low)/7.52 (78.6% retracement of 6.52 and 11.30).