ETH/EUR is seen trading slightly above on Monday. The pair has formed a temporary top around 10.95 on 5th Jan 2017 and is struggling to break above that level for the past twenty trading session (KRAKEN). It is currently trading at 9.84 at the time of writing.

Ichimoku analysis of daily chart indicates:

Tenkan-Sen level: 10

Kijun-Sen level: 9.79

Minor trend reversal level- 11.12 (76.4% retracement of 12.84 and 5.58)

Major Trend reversal level - (60 day EMA) – 9.11

Long-term trend remains to be neutral. ETH/EUR upside is capped by 76.4% fibo at 10.42 and any break above targets 10.95. The pair should close above 10.95 for further direction.

The major resistance is around 10.42 (76.4% retracement of 10.95 and 8.64) and any break above that level will take the pair till 10.95 (Jan 5th high)/11.12 (76.4% retracement of 12.84 and 5.58). Short term support is seen at 9.69 (21- day MA) and any break below will drag the pair till 9.40 (30- day EMA)//9.14 (89- day EMA)/8.64 (Jan 12th, 2017 low).