ETH/USD failed to break above 61.8% fib and has slipped below 10-EMA. It is currently trading at 8.16 levels at the time of writing (Kraken).

Ichimoku analysis (Daily chart):

Tenkan-Sen: 7.40

Kijun-Sen: 8.11

Trend reversal: 10.17 (90-EMA)

On the upside, major resistance is seen at 8.62 (61.8% retracement of 10.30 and 5.92) and a consistent break above would see it testing 8.89 (December 08 high)/9.30 levels (trend line joining 14.45 and 12).

On the reverse side, the pair is trading just shy of 10-EMA and a break below 8.00 (December 09 low) would drag it to 7.45 (trend line joining 12.30 and 8.67). Further weakness would see it testing 7 (August 02 low).