ETH/EUR is seen trading above on Wednesday. The pair has shown slight jump till 10 levels and once again started to decline from that level (KRAKEN). ETH/EUR jumped till 10 yesterday and is currently trading at 9.77 at the time of writing.

Ichimoku analysis of daily chart shows:

Tenkan-Sen level: 9.519

Kijun-Sen level: 8.83

Minor trend reversal level- 11.12 (76.4% retracement of 12.84 and 5.58)

Major Trend reversal level - (60 day EMA) – 8.72

Long-term trend remains to be neutral. ETH/EUR struggles to close above 200- day MA and any close above confirms minor bullishness. 

The major resistance is around 9.85 (200- day MA) and any break above that level will take the pair till 10.40 (Jan 9th high)/10.95 (Jan 5th high). Short-term support is seen at 8.91 (89- day EMA) and any break below will drag the pair till 8.70 (60- day EMA)/7.64 (61.8% retracement of 5.58 and 10.95).