ETH/USD hit a high of 11.19 levels on Monday, but failed to sustain its move. It is currently trading at 10.58 levels at press time (Kraken).
Ichimoku analysis (Daily chart):
Tenkan-Sen: 10.39
Kijun-Sen: 9.60
Trend reversal: 9.67 (90 EMA)
On the upside, the pair is facing strong resistance at 10.78 levels (200-DMA) and a break above would target 11.19 (January 23 high)/ 11.63 (January 05 high).
On the flip side, the pair is likely to find support near 10.22 (21-DMA) and any violation would drag it to 9.93 (61.8% retracement of 9.16 and 11.19)/9.67 (90 EMA).
