The pair has once again hits fresh all time high around 49.48 and slightly declined due to profit booking (KRAKEN). ETH/EUR is trading higher and any minor weakness can be seen only below 43.90 levels. It is currently trading around 48.20 at the time of writing.

Ichimoku analysis of daily chart shows:

Tenkan-Sen level: 41.92

Kijun-Sen level: 31.94

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 psychological resistance at 50 and any break above targets major resistance at 48.73 and any break above confirms major trend reversal, jump till 51.65/52.16 likely.

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 43.95 (23.6% retracement of 28 and 48.89) and any break below will drag the pair till 42.60 (10- day MA)/ 40.77 (23.6% retracement of 15.15 and 48.73).