ETH/EUR pair has once again hit fresh all-time high after breaking previous high at 48.73 (KRAKEN). ETH/EUR formed a bottom around 43.90 and any minor weakness can be seen only below that level. It is currently trading around 47.72 at the time of writing.

Ichimoku analysis of daily chart indicates:

Tenkan-Sen level: 41.92

Kijun-Sen level: 31.94

Major Trend reversal level - (23.6% retracement of 15.15 and 48.73) – 40.75

Long-term trend remains to be bullish. ETH/EUR breaks major resistance at 48.73 and any break above confirms major trend reversal, jump till 51.97 likely.

The major psychological resistance is around 50 and any break above targets 51.66 (161.8% retracement of 48.73 and 43.90)/ 51.97. Short term support is seen at 43.95 (23.6% retracement of 28 and 48.89) and any break below will drag the pair till 42.60 (10- day MA)/ 40.77 (23.6% retracement of 15.15 and 48.73).