ETH/EUR pair has shown a major profit booking after hitting fresh all-time high at 206 on May 25th 2017 (KRAKEN) and it is currently trading around 153.29 at the time of writing.

Ichimoku analysis 4-Hour Chart shows:

Tenkan-Sen level: 156.63

Kijun-Sen level: 159.60

Minor Trend reversal level - (200 4H MA) – 80.30

Long-term trend remains to be bullish. ETH/EUR downside is capped by 100-4H MA and any close below targets 97.

The major resistance is around 185 (76.4% retracement of 206 and 113) and any break above targets 206/218 (161.8% retracement of 199.62 and 168.65).Short term support is seen at 130 (May 22nd low) and any break below will drag the pair till 113 (May 27th low)/98 (200- 4H MA).

It is good to sell on rallies around 170 with SL around 200 for the TP of 115/98.