ETH/USD continued its downtrend on Thursday, falling to a low of $9.75 levels. It currently trades at $10.14 levels at press time.

Ichimoku analysis (daily chart):

Tenkan-Sen: $11.16

Kijun-Sen: $15.39

Trend reversal – $11.86 (90 EMA)

Major resistance is seen at $10.90 levels (23.6% retracement of $16.08 and $ 9.30), and a break above will take the pair to $11.86 levels (90 EMA)/$12.69 levels. On the downside, major support is likely to be found at $9.30 (Jul 5 low) and break below will target $8.47 (127.2% retracement of $10.10 and $16.08)/ $8.00.