FxWirePro: ETH/EUR faces strong resistance at 21-day MA, good to sell on rallies
ETH/EUR is seen trading well above on Tuesday. The pair has recovered sharply and trades slightly above 10- day MA (KRAKEN). It is currently trading around 9.419 at press time. Ichimoku analysis of daily chart shows: Ten…
By Sujha Sundararanjan
Updated 1 min read
Image from the original EconoTimes article
ETH/EUR is seen trading well above on Tuesday. The pair has recovered sharply and trades slightly above 10- day MA (KRAKEN). It is currently trading around 9.419 at press time.
Ichimoku analysis of daily chart shows:
Tenkan-Sen level: 9.27
Kijun-Sen level: 9.23
Trend reversal level - (100 day MA) – 10.49
Long-term trend remains to be bearish. ETH/EUR upside capped by 21- day EMA and any break above 9.50 will take the pair to next level till 10.08.
The major resistance is around 9.49 (21- day MA) and any violation above targets 10.08 (55- day EMA)/10.50 (100- day MA). Short term support is seen at 8.75 (61.8% retracement of 7.80 and 10.30) and any break below targets 7.80 (Oct 29th low).
The sender was not identified, and the transfer does not establish Binance’s net USDT flow; a separate one-hour reading recorded a 44.219 million USDT outflow on Oct. 27.
