ETH/EUR is seen trading below in red on Monday. The pair breaks major support 7.28 and declined till 6.89 levels (KRAKEN). It is currently trading around 6.89 at the time of writing.

Ichimoku analysis of daily chart shows:

Tenkan-Sen level: 7.97

Kijun-Sen level: 8.40

Trend reversal level - (100 days MA) – 10.29

Long-term trend remains to be bearish. ETH/EUR trades slightly below 7.28 and thus, decline till 6.25 is possible.

The minor resistance is around 7.99 (10- day MAS) and any break above targets 8.40 (daily Kijun-Sen)/8.60 (21- day MA). Short-term support is seen at 7.09 (127.2% retracement of 7.80 and 10.30) and any break below targets 6.52(Aug 2nd, 2016 low)/6.25 (Apr 2016 low).