ETH/USD continues to trade in a narrow range on Tuesday and is trying to sustain above 200-day MA. It is currently trading at 11.02 levels, at the time of writing (Kraken).

Ichimoku analysis of daily chart:

Tenkan Sen: 11.10

Kijun Sen: 11.33

Trend reversal: 11.56 (90 EMA)

“ETH/USD is trading weak and closed below the 200-day MA trend line on Monday. A consistent break below this level would see the pair falling to August 02 low of 7.00 levels”, FxWirePro said in a statement.

On the upside, the pair will run into resistance at 11.56 (90 EMA) and a break above would see the pair reaching 12.47 (100-day MA)/ 13.64 (161.8% retracement of 12.49 and 10.65).

On the reverse side, 200-day MA is acting as a major support and further weakness will drag the pair to 9.10 (61.8% retracement of 7 and 12.49)/7.00 (August 2 low).