ETH/EUR pair has declined after hitting high of 249 levels (KRAKEN). ETH/EUR formed a temporary top around 385 and further bullish continuation only above that level. It is currently trading around 235 at the time of writing.

Ichimoku analysis of daily chart shows:

Tenkan-Sen level: 259

Kijun-Sen level: 289

Minor Trend reversal level - (89 EMA) – 187

Long-term trend remains to be bullish. ETH/EUR faces major intraday resistance at 21 - day EMA at 260 and any break above targets 262/290.

The major resistance is around 260 (21- day EMA) and any break above targets 290 (daily Kijun-Sen)/313 (61.8% retracement of 385 and 193). Short term support is seen at 230 and any break below will drag the pair till 193/170/115.

It is good to sell on rallies around 260 with SL around 290 for the TP of 200/193.