ETH/USD has taken support near 7.50 (December 17 low) and is currently trading at 7.71 levels at the time of writing (Kraken).

Ichimoku analysis (Daily chart):

Tenkan-Sen: 8.05

Kijun-Sen: 7.85

Trend reversal: 9.92 (90-EMA)

On the upside, the pair faces resistance at 7.99 (21-day MA) and a break above would target 8.36 (61.8% retracement of 8.89 and 7.50)/8.60.

On the flip side, 7.50 (December 17 low) is acting as a support for the pair and any violation would see it testing 7.15 (trend line joining 12.30 and 8.67)/ 7 (August 02 low).