ETH/EUR pair has broken minor resistance at 12.26 (61.8% retracement of 12.79 and 11.41) and jumped till 12.55 yesterday. ETH/EUR has shown a minor decline till 11.41 from the high of 12.79 on Feb 14th 2017 (KRAKEN).  So a minor weakness can be seen only below 11.40 low formed on Feb 21st 2017. It is currently trading around 12.42 at the time of writing on Friday.

Ichimoku analysis of daily chart shows:

Tenkan-Sen level: 11.98

Kijun-Sen level: 11.25

Minor trend reversal level- 12.80 (Feb 14th 2017 high)

Major Trend reversal level - (89 day EMA) – 9.688

Long-term trend remains to be neutral. ETH/EUR is trading bullish and is facing strong resistance at 12.80 (Sep 21st 2016 high) and any break above confirms major bullishness.

The major resistance is around 12.80 (Feb 14th 2017 high) and any break above targets 13.74 (Jul 23rd high)/14.38 (Jun 22nd 2016 high). Short term support is seen at 11.99 (5 day MA) and any break below will drag the pair till 11.25 (daily Kijun-Sen)/10.71 (50% retracement of 8.64 and 12.79).