ETH/EUR is seen trading weak on Tuesday. The pair has retreated sharply after making a high of 11.40 levels (KRAKEN) on Friday. It is currently trading at 10.13 at the time of writing.

Ichimoku analysis of daily chart shows:

Tenkan-Sen level: 10.33

Kijun-Sen level: 11.15

Trend reversal level - (90 4H MA) – 10.45

Long-term trend remains to be bullish. The short term seems to be bearish. In daily chart, ETH/EUR is trading well below 21 days MA. So a decline till 8.55 is possible.

Major resistance can be noticed at 10.28 (21 days MA) and any break above that level will take the pair till 10.89 (55 days EMA)/11.40 (15th Jul high). Short term support is seen at 10 and any violation below will drag the pair till 8.55 (Jul 5th, 2016 low)/8 (May 6th low).