ETH/USD has slightly recovered after declining till $11.16 (KRAKEN). It is currently trading around $11.57 at the time of writing.

Ichimoku analysis of daily chart shows:

Tenkan-Sen $11.89

Kijun-Sen $12.31

Trend reversal - $12.06 (100 day MA)

Long-term trend remains to be neutral. In the daily chart, the pair upside is capped by 7-day EMA and a slight upside is possible only above that level.

Major resistance is seen at $11.72 (7 days EMA) and any break above targets $11.98 (21- day MA)/ $12.31 (daily Kijun-Sen)/$12.92 (Oct 18th high). Major support can be noted at $11.12 (Oct 25th, 2016 low) and break below targets $10.83 (Aug 29th, 2016)/ $10.65 (19th Aug 2016 low).