ETH/EUR is seen trading slightly below on Monday. The pair breaks the minor resistance at 21- day MA and jumped till 8.139 (KRAKEN). It is currently trading around 7.75 at the time of writing.

Ichimoku analysis of daily chart indicates:

Tenkan-Sen level: 7.45

Kijun-Sen level: 7.53

Minor trend reversal level- 8.13 (55- day EMA)

Major Trend reversal level - (100 day MA) – 9.36

Long-term trend remains to be bearish. ETH/EUR is struggling to close above 55- day EMA and slight jump till 9.36 can be seen above that level.

The major resistance is around 8.13 (55 day EMA) any break above targets 8.68 (Cloud bottom)/ 9.36 (100-day MA). Short-term support is seen at 7.43 (21- day MA) and any break below will drag the pair till 6.62 (61.8% retracement of 5.58 and 8.33)/5.58.