ETH/EUR is seen trading slightly above on Wednesday. The pair continuing it upside after forming a minor bottom around 6.79 on Dec 6th 2016 low. ETHEUR jumped till 12.80 and shown a mild decline till 11.41.The pair is trading slightly above 12 levels at the time of writing.

Ichimoku analysis of daily chart indicates:

Tenkan-Sen level: 11.66

Kijun-Sen level: 11.25

Minor trend reversal level- 12.92 (Sep 21st 2016 high)

Major Trend reversal level - (89 day EMA) – 9.688

Long-term trend remains to be neutral. ETH/EUR is trading bullish and is facing strong trend line resistance at 12.70 (trend line joining 14.38 and 12.799) and any break above confirms major bullishness.

The major resistance is around 12.70 (trend line joining 14.38 and 12.79) and any break above targets 13.74 (Jul 23rd high)/14.38 (Jun 22nd 2016 high). Short term support is seen at 11.78 (10- day MA) and any break below will drag the pair till 11.25 (daily Kijun-Sen)/10.71 (50% retracement of 8.64 and 12.79).