ETH/EUR is seen trading well below on Thursday. The pair has formed a minor top around at 9.64 and retreated slightly from that level (KRAKEN). It is currently trading around 9.12 at the time of writing.

Ichimoku analysis of daily chart shows:

Tenkan-Sen level: 9.27

Kijun-Sen level: 9.22

Trend reversal level - (100 day MA) – 10.48

Long-term trend remains to be bearish. ETH/EUR upside capped by 61.8 retracements of 10.30 and 8.8750. So a slight bullishness can be seen only above this level.

The major resistance is around 9.75 (61.8% retracement of 10.30 and 8.8750) and any violation above targets 10.00 (55- day EMA)/10.30 (30th Oct high). Short term support is seen at 8.75 (61.8% retracement of 7.80 and 10.30) and any break below targets 7.80 (Oct 29th low).