ETH/USD has restored its strength to 13.28 levels on Friday, after hitting a low of 12.30 levels on September 22 (Kraken).

Long-term trend: Bullish

Ichimoku analysis of daily chart:

Tenkan Sen: 13.13

Kijun Sen: 12.64

Trend reversal: 11.87 (90 EMA)

“The pair has declined sharply to 12.30 levels after hitting 14.45 levels. However, it has taken support near 21-day MA and bounced back from that level. It trading above 10-day MA as well as Tenkan Sen and Kijun Sen, which suggests that ETH/USD may test 13.98 (78.6% retracement of 14.45 and 12.30) is possible”, FxWirePro said in a statement. “Bullishness could be confirmed only if it breaks above 14.45 levels.”

Major resistance is seen at 14.45 (September 20 high) and a break above would target 15.23 levels (July 22 high)/16.08 (June 22 high).

On the flip side, support is seen at 12.85 (10 DMA) and a break below would weaken the pair to 12.30 (September 22 low)/11.87 (90 EMA).