ETH/EUR trades slightly above 21-day MA, jump till 12.29 likely
ETH/EUR is seen trading well above on Tuesday. The pair breaks above 55- day EMA at 11.09 and jumped till 11.4890 (KRAKEN). It is currently trading around 11.44 at the time of writing. Ichimoku analysis of daily chart sh…
By Sujha Sundararanjan
Updated 1 min read
Image from the original EconoTimes article
ETH/EUR is seen trading well above on Tuesday. The pair breaks above 55- day EMA at 11.09 and jumped till 11.4890 (KRAKEN). It is currently trading around 11.44 at the time of writing.
Ichimoku analysis of daily chart shows:
Tenkan-Sen level: 10.79
Kijun-Sen level: 11.345
Trend reversal level - (100 days MA) – 10.72
Long-term trend remains to be bullish. ETH/EUR trades slightly above 21- day MA and this confirms minor trend reversal, a jump till 11.95/12.29 is possible.
Minor resistance is around 11.50 any break above targets 11.95 (61.8% retracement of 12.92 and 10.40)/ 12.29 (Sep 29th 2016 high). Short-term support is seen at 11.04 (55- day EMA) and any break below will drag the pair till 10.72 (100- day MA)/10.48 (200- day MA).
