ETH/EUR is seen trading well above on Tuesday and the pair has broken major resistance at 10.95 and jumped sharply from that level (KRAKEN). It is currently trading at 11.48 at the time of writing.

Ichimoku analysis of daily chart indicates:

Tenkan-Sen level: 10.33

Kijun-Sen level: 10.16

Minor trend reversal level- 10.95 (Jan 5th 2017 high)

Major Trend reversal level - (89 day EMA) – 9.50

Long-term trend remains to be neutral. ETH/EUR trades well above 10.95 and this confirms minor bullishness, a jump till 12.37 likely.

The major resistance is around 11.61 (127% retracement of 10.95 and 8.64) and any break above targets 12.37 (161.8% retracement of 10.95 and 8.64)/12.92. Short-term support is seen at 10.60 (5- day MA) and any break below will drag the pair till 10.16 (daily Kijun-Sen)/9.51 (89- day EMA).