ETH/EUR pair declined sharply after hitting all – time high of 385 levels (KRAKEN). ETH/EUR declined till 287 and is currently trading around 300.90 at press time.

Ichimoku analysis of 4-Hour Chart indicates:

Tenkan-Sen level: 328

Kijun-Sen level: 333

Minor Trend reversal level - (200 4H MA) – 190.54

Long-term trend remains to be bullish. ETH/EUR trades below 21-4H EMA at 339, and any break below targets 279.

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 281 (38.2% retracement 385 and 113) and any break below will drag the pair till 249/221 (Jun7th 2017 low).

It is good to sell on rallies around 320 with SL around 385 for the TP of 249/221.