ETH/EUR pair recovered sharply after hitting making a low 258 levels (KRAKEN). ETH/EUR jumped till 328 and is currently trading around 322 at press time.

Ichimoku analysis of 4-Hour Chart indicates:

Tenkan-Sen level: 303

Kijun-Sen level: 321

Minor Trend reversal level - (200 4H MA) – 197

Long-term trend remains to be bullish. ETH/EUR recovers after hitting ichimoku cloud in the 4 hour chart and any close below confirms further weakness.

The major resistance is around 380 (100% projection from 221 to 320.55 till 281.50) and any break above targets 437 (161.8% projection of 113 to 246.70 till 221). Short term support is seen at 260 (cloud bottom) and any break below will drag the pair till 221 (Jun7th 2017 low)/197 (200 -4H MA).

It is good to buy on dips around 300 with SL around 250 for the TP of 380/430.