ETH/USD failed to hold its strength above 90 EMA on Thursday and has slipped to 11.65 levels at the time of writing (Kraken).
Long-term trend: bullish
Ichimoku analysis of daily chart:
Tenkan Sen: 9.75
Kijun Sen: 11.11
Trend Reversal: 11.78 (90 EMA)
On the upside, the pair is facing resistance at 12.40 levels (100 MA) and has been unable to break above this level. A consistent break above would suggest minor bullishness and take the pair to 13.46 (78.6% retracement of 15.23 and 7)/15.23. On the downside, immediate support is likely to be found at 11.52 levels (10 EMA) and a break below would target 10.11 (200 MA)/7.00.
