ETH/EUR is trading above on Thursday as the pair has recovered sharply till 44.25 yesterday after declining to 38.40 levels (KRAKEN).  It is currently trading around 42.50 at the time of writing.

Ichimoku analysis of daily chart shows:

Tenkan-Sen level: 43.94

Kijun-Sen level: 33.40

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

Long-term trend remains to be bullish. ETH/EUR upside is capped by 10- day MA and any break above targets 49.48.

The major resistance is around 45.10. (10- day MA) and any break above targets 49.48 (Mar 29th 2017 high)/ 52.91 (138.2% retracement of 49.48 and 40.50). Short term support is seen at 38 and any break below will drag the pair till 35 (Mar 22nd low)/28 (Mar 18th low).