ETH/USD slightly recovered losses on Monday, hitting 11.61 levels so far in the day. It is currently trading at 11.48 levels (Kraken) at the time of writing.

Ichimoku analysis (Daily chart):

Tenkan-Sen level: 11.39

Kijun-Sen level: 12.69

Trend reversal level - (90 EMA)-11.69

“ETH/USD briefly breached above the 90 EMA last week and has retreated. Only a consistent break above this trend line will confirm further bullishness in the pair”, FxWirePro said in a statement.

The pair faces immediate resistance at 11.69 levels (90 EMA) and a break above would see the pair testing 12.69 (July 15 high)/ 13.49 (61.8% retracement of 16.08 and 9.30). The pair faces support at 10.59 levels (61.8% retracement of 9.30 and 12.69) and a break below would target 9.30 levels (July 5 low)/8.85.