ETH/USD upside continues to be capped by 15-day MA. The pair moved further south on Wednesday unlike Bitcoin which soared higher as Trump became the 45th President of the United States of America. It is currently trading at 10.59 levels (Kraken).

Short-term trend: Bearish

Long-term trend: Bearish

Ichimoku analysis (Daily chart):

Tenkan-Sen: 11.18

Kijun-Sen: 11.06

Trend reversal: 11.81 (100 day MA)

Major resistance is seen at 11.03 (15-day MA) and a break above would see it testing 11.24(November 05 high)/11.81 (100- day MA).

On the flipside, support is seen at 10.28 (61.8% retracement of 9.23 and 12) and any violation would further weaken it to 9.82 (78.6% retracement of 9.23 and 12)/ 9.23 (Oct 29 low).