ETH/EUR is seen trading well above on Thursday. The pair has broken major resistance 10.35 yesterday and jumped till 11.249 levels (KRAKEN). It is currently trading around 11.08 at the time of writing.

Ichimoku analysis of daily chart shows:

Tenkan-Sen level: 10.02

Kijun-Sen level: 10.28

Trend reversal level - (90 days EMA) – 10.34

Long-term trend remains to be bearish. ETH/EUR faces strong resistance at 11.30 (Aug 9th high). The pair should break above 11.30 for further bullishness.

Major resistance is around 11.30 (Aug 9th high) and any break above that level will take the pair till 12 (Psychological resistance)/12.47 (161.8% retracement of 11.30 and 9.40). Short-term support is seen at 10.28 (daily Kijun-Sen) and any violation below will drag the pair till 10 (9- day EMA)/9.40 (Aug 19th, 2016 low).