ETH/EUR pair has broken major support at 188 (89- day EMA) and declined till 155 levels (KRAKEN). It is currently trading around 175 at the time of writing.

Ichimoku analysis of daily chart indicates:

Tenkan-Sen level: 215.50

Kijun-Sen level: 281

Minor Trend reversal level - (Jun 26th low) – 193

Long-term trend remains to be bullish. ETH/EUR has closed below 89- day EMA yesterday and decline till 113 likely.

The major resistance is around 209 (23.6% retracement of 385 and 155) and any break above targets 223 (55- EMA)/281. Short term support is seen at 156 and any break below will drag the pair till 113/87 (200- MA).

It is good to sell on rallies around 185-190 with SL around 225 for the TP of 115.