ETH/EUR is seen trading well above on Tuesday. The reason for Ethereum soaring high appears to be the launch event of Enterprise Ethereum where some of the largest corporate users of Ethereum will demonstrate the most mature enterprise applications of blockchain running today.

The pair has broken major resistance at 14.38 high made on Jun22nd 2016 and jumped till 14.98 levels (KRAKEN). ETH/EUR short term trend is looking extremely bullish as long as support 11.79 (21- day EMA) holds. It is currently trading around 14.83 at the time of writing.

Ichimoku analysis of daily chart indicates:

Tenkan-Sen level: 13.20

Kijun-Sen level: 12.36

Minor trend reversal level- 16.03 (76.4% retracement of 19.08 and 6.79)

Major Trend reversal level - (89 day EMA) – 10.31

Long-term trend remains to be bullish. ETH/EUR is trading slightly above major resistance 14.38 and a jump till 16.03 likely.

The major resistance is around 15 (Psychological level) and any break above targets 16.03 (76.4% retracement of 19.08 and 6.16). Short term support is seen at 13.20 (5 day MA) and any break below will drag the pair till 12.56 (10- day MA)/11.79 (21- day EMA).