ETH/EUR pair has broken previous all-time high of 219.80 yesterday and jumped till 223.50 levels (KRAKEN). The pair shown a minor profit booking from the high of 223.50 till 203 and it is currently trading around 205.20 at press time.

Ichimoku analysis (4-H Chart):

Tenkan-Sen level: 207.70

Kijun-Sen level: 182.90

Minor Trend reversal level - (200 4H MA) – 112

Long-term trend remains to be bullish. ETH/EUR faces minor support at 4H Tenkan-Sen and any break below confirms minor weakness, a decline till 182/165 likely.

The major resistance is around 237 (161.8% retracement of 219.80 and 191.85) and any break above targets 250 (61.8% projection from 67.25 to 206 from 113)/263 (161.8% retracement of 206.79 and 113). Short term support is seen at 207 (4H Tenkan-Sen) and any break below will drag the pair till 182 (4H Tenken-Sen)/168 (50% retracement of 113 and 223.50).

It is good to buy on dips around 185 with SL around 165 for the TP of 220/250.