ETH/EUR pair has broken a minor support at 7.50 and declined till 7.40 (KRAKEN). It is currently trading around 7.56 at the time of writing.

Ichimoku analysis of daily chart shows:

Tenkan-Sen level: 7.56

Kijun-Sen level: 7.61

Trend reversal level - (100 days MA) – 10.00

Long-term trend remains to be bearish. ETH/EUR trades slightly below 7.60 (daily Kijun-Sen) and this confirms minor bearishness a decline till 6.65 is possible.

The major resistance is around 7.80 (21- day MA) any break above targets 8.35 (Dec 8th high)/ 8.78 (55- day EMA)/9.25. Short-term support is seen at 7.60 (daily Kijun -Sen) and any break below targets 7.22 (161.8% retracement of 7.59 and 8.12)/6.62 (61.8% retracement of 5.58 and 8.33)/5.58.