ETH/USD considerably weakened on Tuesday and broke below 200-day MA. It continues to trade in the red at 11.64 levels at press time (Kraken).

Short-term trend: Bearish

Ichimoku analysis of daily chart:

Tenkan Sen: 12.36

Kijun Sen: 12.55

Trend reversal: 12.16 (90 EMA)

Tuur Demeester, an independent investor and editor in chief at Adamant Research, noted the weakness in Ether price following reports of geth nodes not syncing.

On the upside, the pair now faces resistance at 12.05 levels (100-day MA) and a break above would target 12.40 (61.8% retracement of 12.89 and 11.60)/ 12.89 (October 18 high).

On the flipside, the pair has hit the previous low of 11.60 levels (October 10) today. Further weakness would see the pair falling to 11.43 (113% retracement of 11.60 and 12.89)/11.24.