ETH/EUR is seen struggling to rise above 10 on Friday. The pair has slightly recovered after making a low of 8.89 levels (KRAKEN) yesterday. It is currently trading at 9.30 at the time of writing.

Ichimoku analysis of daily chart shows:

Tenkan-Sen level: 10.16

Kijun-Sen level: 13.81

Trend reversal level - (90 4H MA) – 10.56

Long term trend remains to be bullish. Short term trend seems bearish. In daily chart ETH/EUR is struggling to break above 7 day EMA .Any further bullishness only above that level.

Major resistance is seen at 10.07 (7 day EMA) and any break above that level will take the pair till 10.72 (38.2% retracement of 14.38 and 8.55)/11.28 (55 day EMA). Short term support is seen at 8.56 (May 14th low) and any violation below will drag the pair till 8 (May 6th low)/7.44 (200 day MA).