ETH/EUR is seen trading on Thursday above in green. The pair has slightly recovered after making a low of 9.26 levels (KRAKEN) on Jul 11th, 2016. It is currently trading at 9.90 at the time of writing.

Ichimoku analysis of daily chart shows:

Tenkan-Sen level: 9.59

Kijun-Sen level: 10.46

Trend reversal level - (90 4H MA) – 10.46

Long-term trend remains to be bullish. Short term seems to be bearish. In daily chart, ETH/EUR is struggling to break above 14 days EMA .Any further bullishness only above that level.

Major resistance is seen at 10.18 (14 days EMA) and any break above that level will take the pair till 10.72 (38.2% retracement of 14.38 and 8.55)/10.99 (55 days EMA). Short term support can be noticed at 8.56 (May 14th low) and any violation below will drag the pair till 8 (May 6th low)/7.44 (200 day MA).