ETH/USD is seen trading in a narrow range and is currently trading at $11.75 (KRAKEN), at the time of writing. The pair has taken support near $10 and recovered from that level.

Ichimoku analysis (4 H chart):

Tenkan-Sen level: $11.52

Kijun-Sen level: $15.79

Trend reversal level - (90 4H EMA)-$14.60

Major resistance – $12.32 (21 4H MA) and any break above that level will take the pair till $13.63 (19 Jun high)/$14.02 (200 4H MA). Long-term trend is bullish.

Short term support – $10 and any violation below will drag the pair till $8.83 (1.13% retracement of $10.29 and $21.48) /$7 (Apr 13 low).

“In 4hour chart ETH/USD faces strong resistance at $12.32( 21 4H EMA) and may break above which would confirm minor trend reversal”, said FxWirePro in a statement.