ETH/EUR is seen trading in red on Thursday. The pair has made a high of 11.30 and declined from that level (KRAKEN). It is currently trading at 10.57 at the time of writing.
Ichimoku analysis of daily chart shows:
Tenkan-Sen level: 8.91
Kijun-Sen level: 10.13
Trend reversal level - (90 days EMA) – 10.57
Long-term trend remains to be bearish. In a daily chart, ETH/EUR is facing strong resistance at 11.30 (38.2% retracement of 19.08 and 6.52). So further jump can be seen only above that level.
Major resistance is seen at 11.30 (38.2% retracement of 19.08 and 6.52) and any break above that level will take the pair till 12.12 (Jul 27th high)/13.75 (Jul 23rd high).Short-term support can be noticed at 10.41 (7 days EMA) and any violation below will drag the pair till 8.90 (daily Tenkan-Sen)/9.26 (Aug 6th low).
