ETH/EUR pair declined sharply breaking major support at 300 levels (KRAKEN). ETH/EUR declined till 275 and is currently trading around 287 at the time of writing.

Ichimoku analysis of 4-Hour Chart indicates:

Tenkan-Sen level: 302

Kijun-Sen level: 314

Minor Trend reversal level - (200 4H MA) – 240

Long-term trend remains to be bullish. ETH/EUR upside capped by 89- 4H EMA and any break above confirm minor bullishness.

The major resistance is around 316 (55- 4H EMA) and any break above targets 380 (100% projection from 221 to 320.55 till 281.50) /437 (161.8% projection of 113 to 246.70 till 221). Short term support is seen at 258 (Jun 15th 2017 low) and any break below will drag the pair till 240 (200 -4H MA)/200.

It is good to sell on rallies around 300-305 with SL around 330 for the TP of 258/240.