ETH/EUR is seen trading slightly above on Thursday. The pair has declined slightly till 9.72 and jumped from that level (KRAKEN). It is currently trading at 9.90 at the time of writing.

Ichimoku analysis of daily chart shows:

Tenkan-Sen level: 9.72

Kijun-Sen level: 9.25

Minor trend reversal level- 11.12 (76.4% retracement of 12.84 and 5.58)

Major Trend reversal level - (60 day EMA) – 9

Long-term trend remains to be neutral. ETH/EUR faces strong resistance at 76.4% fibo and any close above confirms minor bullishness.

The major resistance is around 10.42 (76.4% retracement of 10.95 and 8.64) and any break above that level will take the pair till 10.95 (Jan 5th high)/11.12 (76.4% retracement of 12.84 and 5.58). Short term support is seen at 9.72 (daily Tenken-Sen) and any break below will drag the pair till 9.25 (daily Kijun-Sen)/8.64 ( Jan 12th 2017 low).