ETH/USD is trading flat on Wednesday and is trading above 90 EMA. It is currently trading at 11.80 levels at the time of writing (Kraken).

Long-term trend: Bullish

Ichimoku analysis of daily chart:

Tenkan Sen: 11.69

Kijun Sen: 11.60

Trend reversal: 11.59 (90 EMA)

“The 100-day MA is acting as a major resistance for the pair. ETH/USD has failed to break above this level and a consistent move beyond this level would confirm further upside”, FxWirePro said in a statement.

Major resistance is seen at 12.41 (100-day MA) and a break above would see the pair testing 13.47 (78.6% retracement of 15.23 and 7.00)/15.23 (July 22 high).

On the reverse side, support is likely to be found at 11.17 (200-day MA) and a break below would target 10.00 (psychological level) and then to 9.77(50% retracement of 7 and 12.54).​