ETH/USD has declined after a slight jump till $11.15 at the time of writing. It is currently trading around $9.18 (Kraken).

Ichimoku analysis (Daily chart):

Tenkan-Sen: $12.10

Kijun-Sen: $12.21

Trend reversal - $11.95

“In daily chart, the pair is facing strong resistance at $11.68 (7 day EMA). So a slight bullishness can be seen above this level”, FxWirePro said in a statement.

The long-term trend remains bullish for the pair and major resistance is seen around $11.68 (7 day EMA) and any break above targets $11.95 (90 day EMA)/$12.35 (55 day EMA). On the other hand, the short-term trend is bearish and support is likely to be found at $9.68 (200 day EMA) and close below targets $8.43 (May 3 low)/$7 (Apr 13 low).