ETH/EUR is seen trading slightly below on Wednesday. The pair has slightly retreated after jumping till 11.78 yesterday (KRAKEN). It is currently trading around 11.468 at the time of writing.

Ichimoku analysis of daily chart shows:

Tenkan-Sen level: 11.09

Kijun-Sen level: 11.345

Trend reversal level - (100 day MA) – 10.77

Long-term trend remains to be bullish. ETH/EUR dipped slightly near 21- day MA and started to jump from that level.

The major resistance is around 11.95 (61.8% retracement of 12.92 and 10.40) and any break above targets 12.29 (Sep 29th 2016 high)/12.92. Short term support is seen at 11.29 (21- day MA) any violation below targets 11.06 (55- day EMA) /10.75 (100- day MA)/10.49 (200- day MA).