ETH/EUR is seen trading slightly above on Monday. The pair is trading in narrow range between 12.29 and 11.64 for the past three trading sessions (KRAKEN). It is currently trading around 11.869 at the time of writing.

Ichimoku analysis of daily chart shows:

Tenkan-Sen level: 11.7935

Kijun-Sen level: 11.449

Trend reversal level - (100 day MA) – 10.70

Long-term trend remains to be bullish. ETH/EUR is trading slightly above 10- day MA (11.77).It should break above 12.20 for further bullishness.

Minor resistance is around 12.20 (61.8% retracement of 12.92 and 11) and any break above that level will take the pair till 12.92 (Sep 21st high)/13.74 (Jul 23rd high). Short-term support is seen at 11.44 (daily Kijun-Sen) and any break below will drag the pair till 11 (22nd Sep low) 10.58 (50- day MA)/10.39 (200- day MA).