ETH/EUR is seen trading above on Wednesday. The pair has once again gained after making a low of 9.7547. ETH/EUR jumped till 10.123 levels yesterday (KRAKEN). It is currently trading around 10.08 at the time of writing.

Ichimoku analysis of daily chart shows:

Tenkan-Sen level: 9.87

Kijun-Sen level: 10.28

Trend reversal level - (90 days EMA) – 10.34

Long-term trend remains to be bearish. ETH/EUR faces strong support at 9.76 (200- day MA). The pair should close below 200-day MA for further weakness.

Major resistance is around 10.14 (50% retracement of 13.7499 and 6.5210 ) and any break above that level will take the pair till 10.34 (90- day EMA)/10.98 (61.8% retracement of 13.74 and 6.52)/ 11.30 (Aug 9th high). ETH/EUR should break above 11.30 for a major trend reversal. Short-term support is seen at 9.76 (200 day MA) and any violation below will drag the pair till 9.40 (Aug 19th, 2016 low)/7.52 (78.6% retracement of 6.52 and 11.30).