ETH/USD is trying to maintain strength above the 7.00 mark and is currently trading at 7.29 levels at press time (Kraken).

Long-term trend: Bearish

Short-term trend: Bearish

Ichimoku analysis (Daily chart):

Tenkan-Sen: 7.54

Kijun-Sen: 7.40

Trend reversal: 9.61 (90-EMA)

On the topside, the pair faces immediate resistance at 7.50 levels (psychological) and a break above would target 7.83 (21-day MA)/7.95 (50% retracement of 8.89 and 7.01)/8.17.

On the flip side, any violation of 7.00 levels would drag the pair to 6.82 (trend line joining 12.30 and 8.67)/6.55 (78.6% retracement of 5.92 and 8.89)/ 5.92 (December 06 low).