ETH/USD is trading in red on Monday and has hit 12.71 levels before restoring to 12.96 levels, where it currently trades (Kraken).

Long-term trend: Bullish

Ichimoku analysis of daily chart:

Tenkan Sen: 13.28

Kijun Sen: 12.70

Trend reversal: 11.95 (90 EMA)

“The pair is facing minor resistance at 13.17 (10-day MA) and should break above September 20 high of 14.45 levels for further upside”, FxWirePro said in a statement.

ETH/USD faces major resistance 14.45 (September 20 high) and a break above would target 15.23 levels (July 22 high)/16.08 (June 22 high).

On the downside, support is likely to be found at 12.47 (21 DMA) and a break below would weaken the pair to 12.30 (September 22 low)/11.95 (90 EMA).