ETH/USD is once again targeting 100-day MA and is currently trading in the green. It has hit 12.19 levels so far in the day (Kraken).

Ichimoku analysis of daily chart:

Tenkan Sen: 11.79

Kijun Sen: 11.60

Trend reversal: 11.61 (90 EMA)

“ETH/USD has bounced back after finding support near 90 EMA. It should break above previous high of 12.54 levels for further upside”, FxWirePro said in a statement.

Major resistance is seen at 12.32(100-day MA) and a break above would target 13.47 (78.6% retracement of 15.23 and 7.00)/ 15.23 (July 22 high).

On the flip side, support is seen at 11.61 (90 EMA) and a break below would drag the pair to 11.31 (200-day MA)/10.00 (psychological level) and then to 9.77(50% retracement of 7 and 12.54).