FxWirePro: ETH/EUR faces strong resistance at 3-day EMA, good to sell on rallies
ETH/EUR is seen trading well below in red on Tuesday. in The pair has declined after making a high of 9.82 levels (KRAKEN). It is currently trading at 9.37 at the time of writing. Ichimoku analysis of daily chart shows: …
ETH/EUR is seen trading well below in red on Tuesday. in The pair has declined after making a high of 9.82 levels (KRAKEN). It is currently trading at 9.37 at the time of writing.
Ichimoku analysis of daily chart shows:
Tenkan-Sen level: 10.57
Kijun-Sen level: 10.85
Trend reversal level - (90 4H MA) - 10.72
Long-term trend remains to be bullish. In a daily chart, ETH/EUR is struggling to break above 3-day EMA (10.27). So a decline till 7.95/6 is possible.
Major resistance is seen at 10.27 (3 days EMA) and any break above that level will take the pair till 10.72 (55 days EMA)/11.10 (55 days EMA). Short-term support can be noticed at 8.66 (200 day MA) and any violation below will drag the pair till 7.95/6.30 (Apr 28th low).
The $0.131 mark was the late-September high; a revisit would depend on Bitcoin (BTC) strengthening and crypto-market sentiment improving. No timeframe was given.
