ETH/EUR is seen trading in red on Tuesday. The pair has broken major support 9.00 and declined till 8.80 levels (KRAKEN). It is currently trading at 9.20 at the time of writing.

Ichimoku analysis of daily chart shows:

Tenkan-Sen level: 11.53

Kijun-Sen level: 14.04

Trend reversal level - (90 4H MA) – 10.63

Long-term trend remains bullish. Short-term trend remains to be bearish. Any break below 9.00 confirms minor weakness, a decline till 7.28 is possible.

Major resistance is seen at10.11 (23.6% retracement of 14.38 and 8.80) and any break above that level will take the pair till 10.99 (7 days EMA)/11.50 (55 days EMA). Short term support is seen at 8.56 (May 14th low) and any violation below will drag the pair till 8 (May 6th low)/7.44 (200 day MA).