ETH/EUR is seen trading above on Tuesday and has recovered from 9.71 level. The pair has once again gained after breaking below 200-day MA. ETH/EUR jumped till 9.98 levels (KRAKEN). It is currently trading around 9.92 at the time of writing.

Ichimoku analysis of daily chart shows:

Tenkan-Sen level: 9.87

Kijun-Sen level: 10.18

Trend reversal level - (90 days EMA) – 10.35

Long-term trend remains to be bearish. ETH/EUR faces strong support at 9.74 (200- day MA). The pair should close below 200-day MA for further weakness.

Major resistance is around 10.18 (daily Kijun-Sen) and any break above that level will take the pair till 10.35(90- day EMA)/10.98 (61.8% retracement of 13.74 and 6.52)/ 11.30 (Aug 9th high). ETH/EUR should break above 11.30 for a major trend reversal. Short-term support is seen at 9.74 (200 day MA) and any violation below will drag the pair till 9.40 (Aug 19th, 2016 low)/7.52 (78.6% retracement of 6.52 and 11.30).