ETH/EUR is seen trading below in red on Thursday. The pair has broken minor resistance 11.40 and jumped till 12.07 levels (KRAKEN) yesterday. It is currently trading at 11.26 at the time of writing.

Ichimoku analysis of daily chart shows:

Tenkan-Sen level: 10.73

Kijun-Sen level: 10.90

Trend reversal level - (90 4H MA) – 10.48

Long-term trend remains to be bullish. The short-term trend seems to be bearish. The ETH/EUR is facing strong resistance at 12.17 (61.8% retracement of 14.38 and 8.55). Any further bullishness can be seen only above that level.

Major resistance is seen at 12.17 and any break above that level will take the pair till 13.15 (78.6% retracement of 14.38 and 8.55). Short-term support can be observed at 10.90 (55 days EMA) and any violation below will drag the pair till 10.24 (21 days MA)/10.