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).