ETH/EUR is seen trading well below on Friday. The pair has declined sharply after jumping till 10.80 on Feb 7th, 2017 (KRAKEN). It is currently trading at 10.25 at the time of writing.

Ichimoku analysis of daily chart indicates:

Tenkan-Sen level: 10.30

Kijun-Sen level: 9.92

Minor trend reversal level- 10.95 (Jan 5th, 2017 high)

Major Trend reversal level - (89 day EMA) – 9.39

Long-term trend remains to be neutral. ETH/EUR faces major support at 200- day MA and closes below confirms major weakness.

The major resistance is around 10.95 (Jan 5th, 2017 high) and any break above targets 12.37 (161.8% retracement of 10.95 and 8.64)/12.92. Short term support is seen at 9.79 (200- day MA) and any break below will drag the pair till 9.39 (89- day EMA)/8.64 (Jan 12th, 2017 low).