ETH/USD hovers around 90 EMA, close above confirms further bullishness

ETH/USD is gradually picking up momentum and has hit 11.96 levels so far in the day. It is trading at 11.82 levels at the time of writing (Kraken).

Ichimoku analysis of daily chart:

Tenkan Sen: 9.75

Kijun Sen: 11.11

Trend reversal: 11.76 (90 EMA)

The pair is trading close to 90 EMA trend line and a consistent break above will confirm further bullishness in the pair.

On the topside, ETH/USD faces immediate resistance at 12.02 (21-day MA) and a break above will target 12.50/13.46 (78.6% retracement of 15.23 and 7). On the flipside, support is seen at 10.00 (200-day MA) and a break below would drag the pair to 8.50/7.00.