ETH/USD moved further south on Thursday and seems to have taken support near 10-day MA. It is currently trading at 13.21 levels (Kraken).

Long-term trend: Bullish

Ichimoku analysis of daily chart:

Tenkan Sen: 13.13

Kijun Sen: 12.64

Trend reversal: 11.84 (90 EMA)

“ETH/USD has failed to break above 15.00 levels and declined sharply. It has hit a fresh low of 12.86 levels so far in the day before restoring to 13.21 levels. It is currently trading above both Tenkan Sen and Kijun Sen, which suggests that a small jump till 13.84 (61.8% retracement of 14.45 and 12.86) is possible”, FxWirePro said in a statement.

On the top side, the pair faces immediate resistance 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 reverse side, support is likely to be found at 12.72 (10 DMA) and a break below would drag the pair to 12.13 (100 DMA)/11.79 (90 EMA).