ETH/EUR recovers and trades above in green on Friday. The pair has recovered sharply after making a low of 11.03 levels (KRAKEN). It is currently trading at 12.80 at the time of writing.

Ichimoku analysis of 4-hour chart shows:

Tenkan-Sen level: 12.37

Kijun-Sen level: 11.82

Trend reversal level - (90 4H MA) – 12.62

Long-term trend remains to be bullish. In 4hour chart ETH/EUR is trading well above 90 4H MA. So jump till 14.40/15.40 is possible.

Major resistance is noticed at 13.15 (61.8% retracement of 14.38 and 11) and any break above that level will take the pair till 13.75/14.40. Short term support is seen at 11.03 (61.8% retracement of 9 and 14.38) and any violation below will drag the pair till 9.