ETH/USD is seen trading below in red on Thursday. The pair has retreated after making a high of $13.43 levels (KRAKEN) yesterday. It is currently trading around $12.59 at the time of writing.

Ichimoku analysis of daily chart shows:

Tenkan-Sen $13.13

Kijun-Sen $12.27

Trend reversal - $11.92

Long-term trend remains to be bullish. Te short-term trend seems to be bearish. In daily chart, the pair is facing resistance at $14 (trend line joining $15.23 and $15). So a slight weakness can be seen below this trend line resistance.

Major resistance can be noticed at $13.13 (daily Tenkan-Sen) and any break above targets $13.86 (61.8% retracement of $15.23 and $11.50)/$14. Major support is seen at $12.39 (55 days MA) and break below targets $11.90/$11.50 (61.8% retracement of $9.30 and $15.23).