ETH/EUR is seen facing a strong resistance and trading in a fluctuating manner on Monday. The pair has slightly recovered after declining till 100- day MA (KRAKEN). It is currently trading around 10.833 at the time of writing.

Ichimoku analysis of daily chart shows:

Tenkan-Sen level: 10.91

Kijun-Sen level: 11.66

Trend reversal level - (100 days MA) – 10.72

Long-term trend remains to be bullish. ETH/EUR faces strong resistance at 9- day EMA and struggles to break above that level. Any further bullishness is seen only above that level.

Minor resistance is around 10.93 (9 day EMA) any break above targets 11.33 (21- day MA)/11.90 (61.8% retracement of 12.92 and 10.40)). Short-term support is seen at 10.72 (100- day MA) and any break below will drag the pair till 10.48 (200- day MA)/9.97 (Sep 8th 2016 low).