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ETH/EUR is seen trading slightly below in red on Tuesday. The pair has slightly jumped after declining till 7.21 levels (KRAKEN). It is currently trading around 7.38 at the time of writing.
Ichimoku analysis of daily chart shows:
Tenkan-Sen level: 7.66
Kijun-Sen level: 7.43
Trend reversal level - (100 day MA) – 9.88
Long-term trend remains to be bearish. ETH/EUR faces major support at 7.20 and any break below targets 6.65.
The major resistance is around 7.59 (21 day MA) any break above targets 8.35 (Dec 8th high)/ 8.62 (55- day EMA). Short-term support is seen at 7.22 (161.8% retracement of 7.59 and 8.12) and any break below will drag the pair till 6.62 (61.8% retracement of 5.58 and 8.33)/5.58.
