ETH/EUR is seen trading above on Monday and the pair is trading in narrow range between 47.80 and 44 for the past eleven trading session. It is currently trading around 45.89 at press time.

Ichimoku analysis of daily chart indicates:

Tenkan-Sen level: 44.30

Kijun-Sen level: 43.94

Major Trend reversal level - (Mar 18th 2017 low) – 28

Long-term trend remains to be bullish. ETH/EUR faces major support at 21- day EMA and any break below confirms minor bearishness.

The major resistance is around 49.48 (Mar 29th 2017 high) and any break above targets 56.32 (161.8%T retracement of 49.48 and 38.40). Short term support is seen at 43.72 (21- day EMA) and any break below will drag the pair till 41.37 (23.6% retracement of 49.48 and 38.40)/ 38.40 (Apr 4th low)/35 (Mar 22nd low).