FxWirePro: ETH/EUR struggles to break above 9-day EMA, good to sell on rallies
ETH/EUR is seen trading below in red on Thursday. The pair has retreated sharply after jumping till 11.01 levels (KRAKEN). It is currently trading around 10.755 at the time of writing. Ichimoku analysis of daily chart sh…
ETH/EUR is seen trading below in red on Thursday. The pair has retreated sharply after jumping till 11.01 levels (KRAKEN). It is currently trading around 10.755 at the time of writing.
Ichimoku analysis of daily chart shows:
Tenkan-Sen level: 11.25
Kijun-Sen level: 11.66
Trend reversal level - (100 day MA) – 10.68
Long-term trend remains to be bullish. ETH/EUR faces strong resistance at 9- day EMA and struggles to break above that level. Any further bullishness only above that level.
Minor resistance is around 11.06 (9 day EMA) any break above targets 11.50 (21- day MA)/11.90 (61.8% retracement of 12.92 and 10.40). Short-term support is seen at 10.46 (200- day MA) and any break below will drag the pair till 10.08/9.50.
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.
