ETH/EUR is seen trading above on Monday. The pair has declined sharply after making a high of 10.88 yesterday (KRAKEN). It is currently trading around 10.62 at the time of writing.

Ichimoku analysis of daily chart shows:

Tenkan-Sen level: 10.50

Kijun-Sen level: 10.32

Trend reversal level - (90 days EMA) – 10.38

Long-term trend remains to be bullish. ETH/EUR faces strong resistance at 11.30 and any break above confirms minor bullishness.

Major resistance is around 11.30 (Aug 9th high) and any break above that level will take the pair till 12.80 (50% retracement of 19.08 and 6.52)/13.75. Short-term support is seen at 10.01 (200-day MA) and any violation below will drag the pair till 9.40 (Aug 19th, 2016 low)/7.99.