ETH/EUR is seen trading low on Tuesday. The pair has formed a short term bottom around 7.60 and slightly recovering from that level (KRAKEN). It is currently trading around 7.910 at the time of writing.

Ichimoku analysis of daily chart shows:

Tenkan-Sen level: 6.96

Kijun-Sen level: 7.61

Trend reversal level - (100 day MA) – 10.08

Long-term trend remains to be bearish. ETH/EUR downside is capped by 10- day MA and any break below will drag the pair till 6.96/6.62 is possible.

The major resistance is around 8.42 (34- day EMA) any break above targets 8.92 (55- day EMA)/9.25. Short-term support is seen at 7.50 (10- day MA) and any break below targets 6.96 (daily Tenken-Sen)/6.62 (61.8% retracement of 5.58 and 8.33)/5.58.