ETH/EUR pair has shown a minor decline till 45.70 at the time of writing after jumping till 49.48. The pair is trading higher and any minor weakness can be seen only below 43.90 levels (KRAKEN). It is currently trading around 48.20 at the time of writing.

Ichimoku analysis of daily chart indicates:

Tenkan-Sen level: 42.29

Kijun-Sen level: 32.32

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

Long-term trend remains to be bullish. ETH/EUR faces minor support at 10- day MA and any break below will confirm minor weakness.

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 44.46 (10- day MA) and any break below will drag the pair till 43.95 (23.6% retracement of 28 and 48.89) / 41.37 (23.6% retracement of 15.15 and 49.48)/38.05 (21- day EMA).