FxWirePro: ETH/USD upside capped by 38.2% fibo, good to sell on rallies

ETH/USD is trading in a narrow range between $10.70 and $11.22 levels (KRAKEN). It is currently trading around $10.94 at the time of writing.

Ichimoku analysis (Daily chart):

Tenkan-Sen $10.61

Kijun-Sen $11.06

Trend reversal - $11.95 (100 day MA)

Long-term trend remains to be neutral. In the daily chart, the pair upside is capped by 38.2% fibo and break above targets $12.

Major resistance is around $11.23 (23.6% $14.45 and $9.23) and any break above targets $11.59 (21- day MA)/$12 (31st Oct high). Major support is seen at $10.61 (daily Tenkan-Sen) and break below targets $10.29 (61.8% retracement of $9.23 and $12)/$9.23 (Oct 29th low).