ETH/EUR is seen trading below in red on Wednesday. The pair declined sharply today morning after showing a slight jump till 9.84 levels (KRAKEN). It is currently trading around 9.41 at the time of writing.

Ichimoku analysis of daily chart shows:

Tenkan-Sen level: 9.81

Kijun-Sen level: 9.79

Trend reversal level - (100 day MA) – 10.59

Long-term trend remains to be bearish. ETH/EUR upside is capped by 10 pschycological level and any close above confirms minor bullishness.

The major resistance is around 9.85 (10- day MA) and any violation above targets 10.34 (50% retracement of 12.92 and 7.80) /10.58 (55- day EMA)/10.96 (50- day MA). Short-term support is seen at 9.15 (Oct 30th 2016 high) and any violation below targets 8.75 (61.8% retracement of 7.80 and 10.30)/7.80 (Oct 29th low).