ETH/EUR is seen trading below in red on Thursday. The pair has declined till 11.51 at the time of writing after making a high of 12.92 yesterday (KRAKEN). It is currently trading around 11.67 at the time of writing.

Ichimoku analysis of daily chart shows:

Tenkan-Sen level: 11.73

Kijun-Sen level: 11.26

Trend reversal level - (100 day MA) – 10.86

Long-term trend remains to be bullish. ETH/EUR has taken support around 11.52 (38.2% retracement of 9.40 and 12.92) and any weakness only below that level.

Minor resistance is seen at 12.05 (38.2% retracement of 12.92 and 9.40) and any break above that level will take the pair till 12.92 (Sep 21st high)/13.74 (Jul 23rd high). Short-term support can be noticed at 11.52 and any violation below will drag the pair till 10.86 (100- day MA)/10.32 (200- day MA) /9.40 (Aug 19th, 2016 low).