ETH/EUR is seen trading below in red on Wednesday. The pair has made a high of 10.80 and declined from that level (KRAKEN). It is currently trading at 10.52 at the time of writing.

Ichimoku analysis of daily chart indicates:

Tenkan-Sen level: 10.26

Kijun-Sen level: 9.85

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

Major Trend reversal level - (60 day EMA) – 9.40

Long-term trend remains to be neutral. ETH/EUR faces strong resistance at 10.95 and any break above confirms major bullishness.

The major resistance is around 10.95 (Jan 5th, 2017 high) and any break above targets 12.37 (161.8% retracement of 10.95 and 8.64)/12.92. Short term support is seen at 10.20 (10- day MA) and any break below will drag the pair till 9.86 (daily Kijun –Sen)/9.35 (89- day EMA).