Following the hard fork, ETH/USD hit a high of 13.00 levels on Wednesday. However, it failed to hold its strength and currently trades at 12.34 levels at the time of writing (Kraken).

Ichimoku analysis of daily chart:

Tenkan Sen: 11.68

Kijun Sen: 12.05

“ETH/USD has formed almost a double top around $13 and slightly decline from that level. The pair should close above $13 level for further upside”, FxWirePro said in a statement.

Long-term trend appears bullish and major resistance is seen at 13.49 levels (61.8% retracement of 16.08 and 9.30) and a break above would take the pair to 14.85 levels (May 20 high)/16.08 (June 22 high).

On the reverse side, major support is around 11.69 levels (90 EMA) and any a break below level would target 10.92 levels (July 18 low)/9.30 (July 05 low).