ETH/EUR is seen trading slightly above on Tuesday and the pair is trading between 47.80 and 43.30 for the past four trading sessions (KRAKEN). It is currently trading around 45.49 at press time.

Ichimoku analysis of daily chart indicates:

Tenkan-Sen level: 44.02

Kijun-Sen level: 42.25

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

Long-term trend remains to be bullish. ETH/EUR faces strong resistance at 49.50 and any further bullishness only above that level.

The major resistance is around 49.48 (Mar 29th 2017 high) and any break above targets 56.32 (161.8%T retracement of 49.48 and 38.40). Short term support is seen at 43.54 (10- day MA) and any break below will drag the pair till 41.37 (23.6% retracement of 49.48 and 38.40)/ 38.40 (Apr 4th low)/35 (Mar 22nd low).