ETH/EUR is seen trading well above on Tuesday. The pair has broken yesterday high at 11.77 and jumped till 12.65 from that level (KRAKEN). It is currently trading around 12.40 at the time of writing.

Ichimoku analysis of daily chart shows:

Tenkan-Sen level: 11.01

Kijun-Sen level: 10.69

Trend reversal level - (100 day MA) – 10.90

Long-term trend remains to be bullish. ETH/EUR is facing strong trend line resistance at 12.65 (trend line joining 14.38 and 123.75) and any break above confirms further bullishness jump till 13.74 is possible.

Major resistance is around 12.65 (trend line joining 14.38 and 123.75) and any break above that level will take the pair till 13.74 (Jul 23rd high) /14.38 (Jun 22nd low). Short-term support is seen at 11.88 (23.6% retracement of 9.40 and 12.65) and any violation below will drag the pair till 10.90 (100- day MA)/10.30 (200- day MA)/9.40 (Aug 19th, 2016 low)/7.99.