ETH/EUR is seen trading well below in red on Tuesday. The pair has declined sharply today morning and declined till 10.55 levels (KRAKEN). It is currently trading around 10.78 levels at the time of writing.

Ichimoku analysis of daily chart shows:

Tenkan-Sen level: 11.26

Kijun-Sen level: 11.345

Trend reversal level - (100 day MA) – 10.80

Long-term trend remains to be bullish. ETH/EUR takes support near 200 –day MA and slightly recovered from that level. Any break below confirms further weakness.

The major resistance is around 11.20 (50- day MA) and any break above targets11.95 (61.8% retracement of 12.92 and 10.40) /12.29 (Sep 29th 2016 high)/12.92. Short-term support is seen at 10.53 (200- day MA) and any violation below targets 10.40 (Oct 10th low)/9.97 (Sep 8th low)/9.40 (Aug 19th low).