ETH/USD has recovered sharply till $10.76 at the time of writing. It is currently trading around $10.40 (Kraken).

Ichimoku analysis (Daily chart):

Tenkan-Sen: $10.41

Kijun-Sen: $11.11

Trend reversal - $11.84 (90 day EMA)

“In daily chart, the pair has broken major resistance $9.76 (200 day MA) and closed above that level. So further weakness will happen below $7 level”, FxWirePro said in a statement.

Overall trend appears weak for the pair. It faces major resistance at $11.03 (7 day EMA) and any break above targets $11.84 (90 day EMA/$12.15 (55 day EMA). On the flipside, support is seen at $9.75 (200 day MA) and close below targets $7/ $5.42 (161.8% retracement of $9.30 and $15.23).