ETH/USD has recovered sharply after making a low of $10.50 at the time of writing. It is currently trading at $11.57 (Kraken).

Ichimoku analysis (Daily chart):

Tenkan-Sen level: $13.06

Kijun-Sen level: $15.79

Trend reversal level - (90 4H EMA)-$11.93

“The pair ETH/USD is facing strong support at $10 and any break below confirms short-term weakness”, said FxWirePro in a statement.

Long-term trend remains bullish for the pair and major resistance is seen at $11.93 (90 day EMA) and any break above that level will take the pair till $12.45 (7 day EMA)/ $12.93 (55 day EMA). On the downside, short-term support is likely to be found at $10 (Jun 18th low) and any violation below will drag the pair till $8.45/$7 (Apr 13th 2016 low).