ETH/EUR trades in red on Thursday. The pair has retreated sharply after making a high of 14.38 levels (KRAKEN). It is currently trading at 11.33 at the time of writing.

Ichimoku analysis of 4-hour chart shows:

Tenkan-Sen level: 12.58

Kijun-Sen level: 11.79

Trend reversal level - (90 4H MA) - 12.71

Long term trend remains to be bullish. In 4hour chart ETH/EUR is trading well below 200 4H MA.  So decline till 9 (Jun 18th low) is possible.

Major resistance is seen at 11.93 and any break above that level will take the pair till 12.50 (200 4H MA)/12.71. 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.