FxWirePro: ETH/EUR downside capped by 21 EMA, good to buy on dips
ETH/EUR pair recovered sharply after hitting low of 67.25 yesterday (KRAKEN). ETHEUR has shown a huger rally till 83 and is currently trading around 82.90 at press time. Ichimoku analysis of daily chart indicates: Tenkan…
By Sujha Sundararanjan
Updated 1 min read
Image from the original EconoTimes article
ETH/EUR pair recovered sharply after hitting low of 67.25 yesterday (KRAKEN). ETHEUR has shown a huger rally till 83 and is currently trading around 82.90 at press time.
Ichimoku analysis of daily chart indicates:
Tenkan-Sen level: 74.61
Kijun-Sen level: 65.64
Minor Trend reversal level - (May 1st low) – 61.25
Long term trend remains to be bullish. ETH/EUR taken support near 21- EMA, any further weakness can be seen only below that level.
The major resistance is around 88 and any break above targets 90.91 (100% projection of 44 and 73.66 to 61.25)/94.63. Short term support is seen at 74.60 (daily Tenken-Sen) and any break below will drag the pair till 66.91 (21 EMA)/61.25 (May 1st low).
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