ETH/EUR is seen trading slightly above on Monday. The pair has broken major support at 7.20 levels and declined till 6.72 levels (KRAKEN). It is currently trading around 6.96 levels at the time of writing.

Ichimoku analysis of daily chart shows:

Tenkan-Sen level: 7.28

Kijun-Sen level: 6.96

Minor trend reversal level- 7.50 (21- day EMA)

Major Trend reversal level - (100 day MA) – 9.67

Long-term trend remains to be bearish. ETH/EUR trades slightly below 7 and a decline till 6.65 is possible.

The major resistance is around 7.09 (5 day MA) any break above targets 7.50 (21- day EMA)/ 8.35 (Dec 8th high)/ 8.54 (55- day EMA). Short-term support is seen at 6.96 (Daily Kijun-Sen) and any break below will drag the pair till 6.62 (61.8% retracement of 5.58 and 8.33)/5.58.