ETH/EUR is seen recovering from slight plunge on Tuesday. The pair declined after jumping till 9.54 levels (KRAKEN). It is currently trading around 9.28 at the time of writing.

Ichimoku analysis of daily chart shows:

Tenkan-Sen level: 9.43

Kijun-Sen level: 9.53

Trend reversal level - (100 day MA) – 10.59

Long-term trend remains to be bearish. ETH/EUR upside is capped by 10 day MA and any close above confirms minor bullishness till 10.30 is possible.

The major resistance is around 9.58 (10-day MA) and any violation above targets 10.26 (61.8% retracement of 11.78) /10.35 (55- day EMA)/10.65 (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).