ETH/EUR pair is trading in a narrow range between 44.25 and 38.40 for the past seven trading sessions (KRAKEN).  It is currently trading around 41.05 at press time.

Ichimoku analysis of daily chart shows:

Tenkan-Sen level: 41.78

Kijun-Sen level: 38.74

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

Long-term trend remains to be bullish. ETH/EUR faces strong resistance at 44.25 high made on Apr 5th, 2017 and any break above targets 49.48.

The major resistance is around 44.25 (Apr 5th, 2017 high) and any break above targets 45.27 (61.8% retracement of 49.48 and 38.71)/ 49.48 (Mar 29th, 2017 high). Short term support is around 39 (23.6% retracement of 5.58 and 49.48) and any break below will drag the pair till 35 (Mar 22nd low)/28 (Mar 18th low).