ETH/EUR is seen trading well above on Thursday. The pair breaks psychological resistance 8 level and jumped till 8.329 (KRAKEN). It is currently trading around 8.17 at the time of writing.

Ichimoku analysis of daily chart shows:

Tenkan-Sen level: 6.94

Kijun-Sen level: 7.62

Trend reversal level - (100 days MA) – 10.21

Long-term trend remains to be bearish. ETH/EUR trades well above daily Kijun-Sen and a slight jump till 9.13 (55- day EMA) is possible.

The major resistance is around 8.30 (21- day MA) any break above targets 8.64 (34- day EMA)/ 9.13 (55- day EMA). Short-term support is seen at 7.62 (daily Kijun-Sen) and any break below targets 6.94 (daily Tenekn-Sen)/5.58.