ETH/USD failed to close above 100-day MA on Thursday and is trading below this level today. It is currently trading at 12.14 levels (Kraken).

Long-term trend: Bullish

Short-term trend: Bullish

Ichimoku analysis of daily chart:

Tenkan Sen: 11.67

Kijun Sen: 11.60

Trend reversal: 11.57 (90 EMA)

“The pair is trading well above 90 EMA and a break above 12.42 (100-day MA) would see the pair targeting 15.23 levels”, FxWirePro said in a statement.

Major resistance is seen at 12.43 (100-day MA) and a break above would take the pair to 13.64 (161.8% retracement of 12.49 and 10.65)/15.23 (July 23 high). On the other hand, support is seen at 11.57 (90 EMA) and a break below would drag the pair to 10.99 (200-day MA)/9.77 (50% retracement of 7 and 12.54).