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ETH/EUR continues upward trend, move to 15.95 likely

ETH/EUR continued its upward move and has reached an all-time high at 14.52 at the time of writing and jump till 15.95 is possible. It currently trades at 14.75 levels (KRAKEN) at the time of writing.

Ichimoku analysis of the daily chart shows:

Tenkan-Sen level: $12.88

Kijun-Sen level: $11.60

Trend reversal level - (90 day EMA)-$9.57

Long term trend is still bullish. The pair has broken major resistance at $13.60 (Mar 13th 2016 high) and jumped till $14.97 at the time of writing .It is currently trading at $14.75. Major resistance is seen at $15 (round figure) and any break above that level will take the pair till 15.95 (1.618% retracement of $13.39 and $9.25)/$16.64. Short term support is seen at $12.87 (7day EMA) and any violation below will drag the pair till $12 (21 day MA/$11.60). The minor support is at $13.60 (resistance turned into support).

 

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