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FxWirePro: ETH/EUR trades in narrow range, further bullishness above 88 level

ETH/EUR pair is consolidating in narrow range between 85.99 and 76 for the past three days (KRAKEN). It is currently trading around 82.61 at press time.

Ichimoku analysis of daily chart shows:

Tenkan-Sen level: 76.87

Kijun-Sen level: 66.16

Minor Trend reversal level - (May 1st low) – 61.25

Long-term trend remains to be bullish. ETH/EUR is facing strong resistance at 88 and any break above targets 94.63/100.

The major resistance is around 88 and any break above targets 90.91 (100% projection of 44 and 73.66 to 61.25)/94.63. Short term support is seen at 76 (daily Tenkan-Sen) and any break below will drag the pair till 72 (21 EMA)/61.25 (May 1st low).

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