ETH/EUR is seen trading slightly above on Tuesday. The pair has regained from the low made on yesterday (KRAKEN). It is currently trading around 11.69 at the time of writing.

Ichimoku analysis of daily chart shows:

Tenkan-Sen level: 11.836

Kijun-Sen level: 11.449

Trend reversal level - (100 day MA) – 10.69

Long-term trend remains to be bullish. ETH/EUR is facing strong resistance at daily Tenkan-Sen and any break above targets 12.92.

Minor resistance is around 11.83 (daily Tenkan-Sen) and any break above targets 12.05 (38.2% retracement of 12.92 and 9.40) and any break above that level will take the pair till 12.92 (Sep 21st high)/13.74 (Jul 23rd high). Short-term support is seen at 11(22nd Sep low) and any violation below will drag the pair till 10.53 (50- day MA)/10.34 (200- day MA)/9.40 (Aug 19th 2016 low).