ETH/EUR is seen facing a strong support on Friday. The pair has slightly recovered after making a low of 9.970 levels (KRAKEN). It is currently trading around 10.24 at the time of writing.

Ichimoku analysis of daily chart shows:

Tenkan-Sen level: 10.58

Kijun-Sen level: 10.32

Trend reversal level - (90 day EMA) – 10.36

Long-term trend remains to be bullish. ETH/EUR faces strong support at 10.04 (200- day MA) and it should close below 200-day MA for further weakness.

Major resistance is seen at 10.36 (55-day MA) and any break above that level will take the pair till 10.58 (daily Tenken-Sen)/11 (61.8% retracement of 13.74 and 6.52)/11.30 (Aug 9th low). Short term support is around 10.04 (200-day MA) and any violation below will drag the pair till 9.40 (Aug 19th 2016 low)/7.99.