ETH/EUR faces resistance at 38.2% retracement, break above targets 11.30
ETH/EUR is seen trading below on Tuesday. The pair has slightly recovered till 10.11 after making a low of 9.67 on Friday (KRAKEN). It is currently trading at 9.832 at the time of writing. Ichimoku analysis of 4-hour cha…
By Sujha Sundararanjan
Updated 1 min read
Image from the original EconoTimes article
ETH/EUR is seen trading below on Tuesday. The pair has slightly recovered till 10.11 after making a low of 9.67 on Friday (KRAKEN). It is currently trading at 9.832 at the time of writing.
Ichimoku analysis of 4-hour chart shows:
Tenkan-Sen level: 9.93
Kijun-Sen level: 9.759
Trend reversal level - (90 4H EMA) – 10.02
Long-term trend remains to be bearish. In a daily chart, ETH/EUR faces strong resistance at 10.125 (38.2% retracement of 11.30 and 9.40). So a close above confirms minor bullishness.
Major resistance is around 10.125 and any break above that level will take the pair till 10.59 (200 4H MA)/11.30 (38.2% retracement of 13.75 and 6.52). ETH/EUR should break above 11.30 for a major trend reversal. Short term support is seen at 9.40 (Aug 19th low) and any violation below will drag the pair till 7.52 (78.6% retracement of 6.52 and 11.30)/6.52 (Aug 2nd low).
XLM's chart readings were bearish on four-hour and weekly views but bullish on the daily chart. The Sunday quote was below Saturday's snapshot, taken at a different time.
