ETH/USD broke below the support at 9.50 levels on Thursday and hit a fresh low of 8.67 levels. It has restored its strength to above 9.00 levels and is trading at 9.18 levels at press time (Kraken).

Long-term: Bearish

Short-term: Bearish

Ichimoku analysis (Daily chart):

Tenkan-Sen: 9.52

Kijun-Sen: 10.33

Trend reversal: 11.25 (90 EMA)

On the topside, the pair faces immediate resistance at 9.29 levels (38.2% retracement of 10.30 and 8.67) and a break above would target 9.52 levels(50% retracement of 10.37 and 8.67) /9.74 (10-EMA)/10.00.

On the flipside, support is seen at 9.15 (127.2% retracement of 9.40 and 10.30) and a consistent break below would see the pair falling to 8.67 levels (November 24 low)/ 7.00 (August 02 low).