ETH/USD closed above 21-day MA on Thursday, which suggests a minor bullish trend in the pair. It is currently trading at 11.35 levels at the time of writing (Kraken).

Ichimoku analysis of daily chart:

Tenkan Sen: 11.01

Kijun Sen: 9.75

Trend reversal: 11.60 (90-day EMA)

“The pair has bounced back after taking support near 200-day MA and is struggling to sustain above 21-day MA. ETH/USD should close above 90 EMA for further upside”, FxWirePro said in a statement.

On the topside, major resistance is seen at 11.60 (90-day EMA) and further strength would push the pair to 12.58 (100-day MA)/ 13.64 (161.8% retracement of 12.49 and 10.65). On the reverse side, the pair faces strong support at 10.76 (200-day MA) and a break below will take the pair to 9.10 (61.8% retracement of 7 and 12.49)/7.00 (August 2 low).