ETH/EUR pair has taken support near 21- day EMA and jumped slightly from that level. ETH/EUR is facing strong support at 15 (21- day EMA and daily Kijun –Sen) and any break below confirms further weakness (KRAKEN). It is currently trading around 15.95 at the time of writing.

Ichimoku analysis of daily chart shows:

Tenkan-Sen level: 16.88

Kijun-Sen level: 15.08

Minor trend reversal level- 19.08 (Jun 17th, 2016 high)

Major Trend reversal level - (89 day EMA) – 11.77

Long-term trend remains to be bullish. ETH/EUR slightly jumped from the low of 15.30. But its upside is capped by 38.2% retracement of 19.62 and 15.30.

The minor resistance is around 16.95 (38.2% retracement of 19.62 and 15.30) and any break above targets 17.96/19/19.81 (161.8% retracement of 14.38 and 5.58). Short term support is seen at 15 (21- day EMA) and any break below will drag the pair till 14.25 (38.2% retracement of 19.62 and 5.58).