ETH/USD has been trading in a narrow range for the past couple of days and is struggling for a consistent break above 12.00 levels. It is currently trading at 11.88 levels (Kraken).
Ichimoku analysis of daily chart:
Tenkan Sen: 12.20
Kijun Sen: 12.96
Trend reversal: 12.17 (90 EMA)
The pair faces major resistance at 11.97 levels (100-day MA) and it must close above for further upside, Bullishness in the pair could be confirmed only if it breaks above 12.17 levels (90 EMA), which would see it testing 12.62 (21-DMA).
On the downside, support is seen at 11.74 (200-DMA) and a break below would target 11.60 levels (October 10 low)/11.35 (September 08 low).
