ETH/USD is soaring upwards on the back of new found momentum. It is currently trading at 12.27 levels at the time of writing (Kraken).

Long-term trend: Bullish

Short-term trend: Bullish

Ichimoku analysis of daily chart:

Tenkan Sen: 11.29

Kijun Sen: 11.41

Trend reversal: 11.56 (90 EMA)

“The pair has bounced back after hitting 200-day MA and has broken above major 12.00 levels. It briefly breached 100-day MA on Thursday, and a close above would see further jump till 15.23 levels (July 23 high)”, FxWirePro said in a statement.

On the upside, ETH/USD is nearing 12.43 (100-day MA) and a break above would see it reaching 13.64 (161.8% retracement of 12.49 and 10.65)/15.23 (July 23 high).

On the flipside, 11.56 (90 EMA) will act as a major support for the pair and a break below would target 10.96 (200-day MA)/10.00.