ETH/EUR is seen trading well below in red on Tuesday. The pair breaks below the major support of 7.80 and declined sharply till 7.28 levels (KRAKEN ). It is currently trading around 7.65 at the time of writing.

Ichimoku analysis of daily chart shows:

Tenkan-Sen level: 8.92

Kijun-Sen level: 9.13

Trend reversal level - (100 days MA) – 10.43

Long-term trend remains to be bearish. ETH/EUR trades slightly below 7.80 level and it confirms minor weakness, a decline till 6.52 (Aug 2nd 2016 low) is possible.

The minor resistance is around 8 (23.6% retracement of 10.30 and 7.28) and any break above targets 8.62 (5-day MA)/8.89 (10- day MA). Short-term support is seen at 7.09 (127.2% retracement of 7.80 and 10.30) and any break below targets 6.52(Aug 2nd, 2016 low).