ETH/EUR trades slightly above 100-day MA, jump till 13.75 likely

ETH/EUR is seen trading slightly above on Wednesday. The pair has broken minor resistance at 10.36 and jumped till 11.30 levels (KRAKEN). It is currently trading at 11.06 at the time of writing.

Ichimoku analysis of daily chart shows:

Tenkan-Sen level: 8.91

Kijun-Sen level: 10.13

Trend reversal level - (90 days EMA) – 10.57

Long-term trend remains to be bearish. In daily chart, ETH/EUR is trading slightly above 100 days MA.  So a jump till 13.75 is possible.

Major resistance is seen at 11.10 (100 day MA) and any break above that level will take the pair till 12.12 (Jul 27th high)/13.75 (Jul 23rd high).Short-term support can be noticed at 10.25 (7 days EMA) and any violation below will drag the pair till 8.90 (daily Tenkan-Sen)/9.26 (Aug 6th low).