ETH/EUR is seen trading below in red on Wednesday. The pair has retreated slightly after climbing till 9.64 levels (KRAKEN). It is currently trading around 9.24 at press time.

Ichimoku analysis of daily chart shows:

Tenkan-Sen level: 9.27

Kijun-Sen level: 9.22

Trend reversal level - (100 day MA) – 10.49

Long-term trend remains to be bearish. ETH/EUR has broken above 21- day MA but not able to hold at higher levels. So a slight bullishness can be seen only above 21- day MA.

The major resistance is around 9.79 (50% retracement of 11.78 and 7.80) and any violation above targets 10.06 (55- day EMA)/10.30 (30th Oct high). Short-term support is seen at 8.75 (61.8% retracement of 7.80 and 10.30) and any break below targets 7.80 (Oct 29th low).