FxWirePro: ETH/EUR downside capped by 38.2% fibo, good to buy on dips
ETH/EUR pair has recovered after showing mild decline till 35.11 levels (KRAKEN). It is currently trading around 37.99 at press time. Ichimoku analysis of daily chart indicates: Tenkan-Sen level: 35.72 Kijun-Sen level: 2…
By Sujha Sundararanjan
Updated 1 min read
Image from the original EconoTimes article
ETH/EUR pair has recovered after showing mild decline till 35.11 levels (KRAKEN). It is currently trading around 37.99 at press time.
Ichimoku analysis of daily chart indicates:
Tenkan-Sen level: 35.72
Kijun-Sen level: 26.93
Major Trend reversal level - (daily Kijun-Sen) – 29.63
Long-term trend remains to be bullish. ETH/EUR faces strong support around 34.83 (38% retracement of 15.15 and 47) and any break below confirms minor weakness.
The major resistance is around 42 and any break above targets 45.32 (88.6% retracement of 47 and 47. Short term support is seen at 35.08 (50% retracement of 28 and 42.17) and any break below will drag the pair till 31.17 (50% retracement of 5.58 and 47)/29.63 (daily Kijun-Sen).
ENA was down 1.71% over 24 hours. A reported tally across three exchanges showed $10,000 in short liquidations and none in long positions, with no data provider named.
