ETH/EUR is seen slightly recovering above on Thursday after the plunge. The pair has recovered after making a low of 6.52 levels (KRAKEN). It is currently trading at 9.55 at the time of writing.

Ichimoku analysis of daily chart shows:

Tenkan-Sen level: 9.32

Kijun-Sen level: 10.13

Trend reversal level - (90 days EMA) – 10.62

Long-term trend remains to be bearish. In a daily chart, ETH/EUR has closed slightly above 200 day MA. So slight jump till 10.13/10.62 is possible.

Major resistance is seen at 9.85 (7 day EMA) and any break above that level will take the pair till 10.13 (daily Kijun-Sen)/ 10.62. Short term support can be noticed at 8.75 (200 day MA) and any violation below will drag the pair till 6.52 (3rd Aug low)/5.30 (161.8% retracement of 8.55 and 13.74).