ETH/EUR pair has minor jump above daily Kijun-Sen and declined sharply from that level (KRAKEN). ETH/EUR formed a temporary top around 385 and further bullish continuation only above that level. It is currently trading around 235 at press time.

Ichimoku analysis of daily chart shows:

Tenkan-Sen level: 243

Kijun-Sen level: 289

Minor Trend reversal level - (89 EMA) – 183

Long-term trend remains to be bullish. ETH/EUR faces major resistance around 290 and any close above will take the pair 313/353.45.

The major resistance is around 290 (daily Kijun-Sen) and any break above targets 313 (61.8% retracement of 385 and 193)/353.45/385. Short term support is seen at 230 and any break below will drag the pair till 193/170/115.

It is good to buy on dips around 245 with SL around 230 for the TP of 292/313.