ETH/USD is seen facing a strong support on Friday. The pair has once again retreated from the higher levels. It has made a high of $13.09 (KRAKEN) and declined from that level. It is currently trading around $12.73 at the time of writing.

Ichimoku analysis of daily chart shows:

Tenkan-Sen $13.34

Kijun-Sen $12.27

Trend reversal - $11.94

Long-term trend remains to be bullish. Short term trend seems to be bearish. In a daily chart, the pair is facing strong support at $13.40 (55 days EMA). So a slight weakness can be seen below this level.

Major resistance is seen at $12.89 (7 day EMA) and any break above targets $13.34 (daily Tenken-Sen)/$13.86 (61.8% retracement of $15.23 and $11.50). Major support can be noticed at $12.40 (55 days EMA) and break below targets $11.90/$11.50 (61.8% retracement of $9.30 and $15.23).