ETH/EUR pair has taken support near 21- day EMA and jumped slightly till 17.30 from that level (KRAKEN). ETH/EUR is facing strong support at 15 (21- day EMA and daily Kijun –Sen) and any break below confirms further weakness. It is currently trading around 16.82 at the time of writing.

Ichimoku analysis of daily chart indicates:

Tenkan-Sen level: 17.13

Kijun-Sen level: 15.08

Minor trend reversal level- 19.08 (Jun 17th 2016 high)

Major Trend reversal level - (89 day EMA) – 11.77

Long-term trend remains to be bullish. ETH/EUR slightly jumped from the low of 15.15. But its upside is capped by 50% retracement of 19.62 and 15.15.

The minor resistance is around 17.38 (50% retracement of 19.62 and 15.15) and any break above targets 17.96/19/19.81 (161.8% retracement of 14.38 and 5.58). Short term support is seen at 15 (21- day EMA) and any break below will drag the pair till 14.25 (38.2% retracement of 19.62 and 5.58).