ETH/USD is consolidating gradually in a narrow range and is hovering around 100-day MA. It is currently trading at 11.99 levels (Kraken).

Long-term trend: Bullish

Short-term trend: Bullish

Ichimoku analysis of daily chart:

Tenkan Sen: 12.50

Kijun Sen: 13.02

Trend reversal: 12.18 (90 EMA)

“The pair is trading above 11.73 (200-day MA) and struggling to close above11.93 (100-day MA) from past couple of days. Bullishness in the pair would be seen only if it breaks above the previous high of 12.23 levels”, FxWirePro said in a statement.

Major resistance is seen at 12.18 (90 EMA) and any violation would send the pair 12.76 (21-Day MA)/13.50 (October 04 high).

On the downside, support is likely to be found at 11.73 (200-DMA) and a break below would target 11.60 levels (October 10 low)/11.35 (September 08 low).