ETH/EUR is seen trading below in red on Friday. The pair has jumped slightly after declining till 8.640 levels (KRAKEN) yesterday. It is currently trading at 9.10 at the time of writing.

Ichimoku analysis of daily chart indicates:

Tenkan-Sen level: 9.79

Kijun-Sen level: 8.83

Minor trend reversal level- 11.12 (76.4% retracement of 12.84 and 5.58)

Major Trend reversal level - (60 day EMA) – 8.60

Long-term trend remains to be neutral. ETH/EUR takes support near 60- day EMA and any break below confirms further weakness and decline till 6.72 is possible.

The major resistance is around 9.18 (23.6% retracement of 10.95 and 8.64) and any break above that level will take the pair till 9.79 (daily Tenken-Sen)/10.40 (Jan 9th high). Short term support is around 8.60 (60- day EMA) and any break below will drag the pair till 7.63 (61.8% retracement of 5.58 and 10.95).