ETH/EUR trades slightly above 10–day MA, bullishness only above 21- day MA
ETH/EUR recovered after declining till 9.12 (KRAKEN). It is currently trading around 9.57 at the time of writing. Ichimoku analysis of daily chart shows: Tenkan-Sen level: 9.38 Kijun-Sen level: 9.51 Trend reversal level …
By Sujha Sundararanjan
Updated 1 min read
Image from the original EconoTimes article
ETH/EUR recovered after declining till 9.12 (KRAKEN). It is currently trading around 9.57 at the time of writing.
Ichimoku analysis of daily chart shows:
Tenkan-Sen level: 9.38
Kijun-Sen level: 9.51
Trend reversal level - (100 day MA) – 10.58
Long-term trend remains to be bearish. ETH/EUR trades slightly above 10 days MA and any close above 21- day confirms minor bullishness till 10.30 is possible.
The major resistance is around 9.76 (21- day MA) and any violation above targets 10.33 (55- day EMA)/10.58 (100- day MA). Short-term support is seen at 9.15 (Oct 30th, 2016 low) and any violation below targets 8.75 (61.8% retracement of 7.80 and 10.30)/7.80 (Oct 29th low).
The Office of the Comptroller of the Currency finalized its issuer rule on Oct. 21, while a Sept. 15 Senate vote left the broader Digital Asset Market Clarity Act pending.
