ETH/EUR is seen trading in red on Wednesday. The pair has broken major support 11 (23rd Jun low) and declined till 10.29 levels (KRAKEN). It is currently trading at 10.75 at the time of writing.

Ichimoku analysis of 4-hour chart shows:

Tenkan-Sen level: 11.54

Kijun-Sen level: 11.77

Trend reversal level - (90 4H MA) – 12.52

Long term trend remains to be bullish. In 4-hours chart ETH/EUR is trading well below 200 4h MA. So a decline till 9 is possible.

Major resistance is seen at 11.38 (7 4H EMA) and any break above that level will take the pair till 11.77/12.35 (21 4 H MA)/12.52 (200 4H MA). Short term support can be noticed at 10.29 (Jun 28th low) and any violation below will drag the pair till 9 (Jun 18th low).